Research On The Employer Payment Bonding System In Public Investment Projects

The default of the owners'credit risk which is caused by the Construction arrears is one of the most difficult problems for most of the contractor. As the situation of the payment in arrears in Public Investment Projects has become worse at the present time, the Government has been one of the members who always delays the time of payment so that"Honest Government"has been questioned. Along with the deepening of reform and opening up, and the accelerated process of urbanization, the scale of investment of Public Investment Projects is increasing, we should take effective measures the problems in traditional Public Investment Projects, so that the problem of arrears in Public Investment Projects can be solve effectively. In the market economy system, the local government also should abide by the rules of market economy; the acts of the government's market economy should also be controlled by the system of the Employer Payment. For regulating the government's acting, safeguarding the interests of the people and the contractor, and ensuring that Public Investment Projects can be implemented successfully, the push of the Employer Payment Bond System in Public Investment Projects is of great significance. Therefore, application study of the Employer Payment Bond System in Public Investment Projects is used for the research topic of the paper. Through the systemic studies of the Employer Payment Bond System in Public Investment Projects, we can make efforts to think about how to build the framework for the new system.This paper analyzes the actuality and causation of the non-payments problems in Public Investment Projects and the need for designing a new system firstly. On the one hand, based on compared summarizing to international surety bond system by the theoretic investigation, this paper introduces an effective method for the progress of the Employer Payment Bond System in Public Investment Projects. On the other hand, according to using the method of Delphi, this paper designs the Employer Payment Bond System in Public Investment Projects which is suitable for our country. In this paper, the Employer Payment Bond System in Public Investment Projects is made up of 5 sectors--- correlated system, supervisory institution, supervisory system, implementary factor, implementary course. According to analyzing the limitation of system at the present time, and looking forward to the push of the new system, this paper provides the corresponding strategies and schemes for the push of the Employer Payment Bond System in Public Investment Projects.