There are certain questions in people’s minds regarding surety bonds, like when a surety bond is required, what risks are involved if I don’t get a surety bond, etc. You can apply for a surety bond online on any surety bond insurance companies. The rules and regulations of surety bonds differ from one state to another in the U.S. If you are unaware of the answers, here are some situations that will tell you when you require a surety bond: Continue reading When do I require a surety bond?
Payment and performance bonds are required by contractors to carry out a successful construction project. These bonds are also known as surety bonds. Surety bonds make sure that the project is completed successfully and that subs and vendors are paid. Continue reading What is a Payment and Performance Bond?
Once you have made the decision to get bonded and grow your construction business, it is essential for you to know the basics of construction surety bonds. Only when you have a complete knowledge of surety bonds will you be able to make out the requirements of the bonds needed for each part of any project. This Florida surety bond company recommends having a complete awareness of the basics of surety bonds: Continue reading A Quick Guide to Surety Bond Terms
Construction projects cause lot of worry to the project owners. Most project owners reduce their worries by hiring a contractor to work on the construction project. To involve a contractor in any construction project, the project owner demands a construction bond from the contractor. A construction bond protects both the contractor and the project owner from any kind of risk. Continue reading Infographic : Risk Transfer with Construction Bonds