Jiménez y Salellas, Inc. v. Maryland Casualty Co.

The Puerto Rico Industrial Development Company contracted with Brico Construction Co. for the construction of a building. Brico Construction would construct it. Development required Brico to post the bond required by law whenever the Government or one of its agencies contracts for the construction of some work, 22 L.P.R.A. §§47 and 58. On the terms of the bond, the law provides the following:

“The above-mentioned bond shall be posted by the contractor in cash, by certified check, or through the surety of a bonding company authorized to do business in Puerto Rico, and said payment bond shall…