Interior Distributors, Inc. v. Autry

SMITH, Judge.

Defendant Sigma Construction Company, Inc. (Sigma) entered into a contract with the State of North Carolina through its political subdivision Cumberland County for construction of the Cumberland County Coliseum (the project). In December 1995, Sigma, as general contractor, entered into a Payment Bond Agreement with defendant The American Insurance Company (American) for $12,349,010.00. See N.C. Gen. Stat. § 44A-27 (1995). The Bond Agreement listed Sigma as the Principal and Cumberland County as the Owner.

On or about 22 February 1996, Sigma entered into a subcontract agreement…