“PAY-IF-PAID” CLAUSE ENFORCEABLE EVEN WITHOUT RISK TRANSFER LANGUAGE

U.S. Court of Appeals for the Seventh Circuit

BMD Contractors, Inc. v. Fidelity and Deposit Company of Maryland

No. 11-1345
May 11, 2012

Overview

A federal appeals court has ruled that a pay-if-paid clause, with "condition precedent" language, was enforceable under Indiana law. Additional "transfer of risk" language was not necessary to pass through the risk ... Log in to view the full text.