A Study On The Legal Issues Of Construction Bond

The construction project mostly is greatly invested,and the time for project is a long way, also the risk is great in the construction process. Now there are a lot of problems such as the quality of engineering and the default of engineering fees in our construction maket. Based on the analysis of two problems ,the lack of the effective credit instrument in Chinese construction market is pointed out as one of the most important reasons. Construction contract bond can Guarantee the performance of the contract, reduce the impact of the market volatility,guarantee the smooth of socio-economic development.it can also regulate the construction market.Construction bond belonging to the security nature of the secured debt.Its major legal relationship involved the construction owner,the contractors and the guarantor.Its object-- Construction Project is special object. Its content is the rights and obligations of tripartite.the contract subordinate the major contract.Warranty Law stipulated in the mortgage, pledge, indwelling, deposit, etc.Now the four ways of security has some shortcomings in practice application. There are some legal obstacles about the application of construction dwelling . Compared to the above-mentioned four ways, guarantee is a human security and use in a extensive way in construction bond.It can better protect the performance of the contract and enhance efficiency of construction bond.At present, the main problems of construction bond are the lack of qualified guarantor and mechanics'lien must be clear in legislation. In view of the status quo, the author proposed that the Chinese project guarantee system should mainly use the surety bond form.In the relevant legislation, Proposed to amend the"Warranty Law","Construction Law"and"Tendering Law",Secured construction bond can use corresponding laws.So that it will operate on the healthy way of the legal system.