National Surety Corp. v. United States
United States Court of Federal Claims
1Opinion of the Court
OPINION
ROBINSON, Judge.
This matter is before the court on the parties’ cross-motions for summary judgment. Oral argument was held on June 22, 1994.
Plaintiff National Surety Corporation (National), the performance bond surety on a defaulted government construction contract, seeks ten percent of the amount paid to the contractor before its default. National contends that this percentage should have been withheld as retainage, entitling National to recover it to offset the cost of honoring its performance bond. The government counters that it acted within its discretion when it released the…
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