Commercial bonds are used to protect consumers against deception and falsification, and provide compensation of monetary loss. These bonds are typically required by federal and state courts, government bodies, financial institutions, and private corporations. Some of the important types of commercial surety bonds include: Continue reading What Are the Different Kinds of Commercial Bonds?
Contract bonds are a requirement for bidding on public and private projects across the United States. Similar to other types of surety bonds, constructions bonds are a three-party agreement between the contractor (who needs the bonding), the entity requiring the bond (the project owner or obligee), and the surety (that underwrites the bond). Continue reading How Construction Contract Bonds Work?
The infographic “An Insight into Commercial Surety Bonds” describes the aspects of commercial surety bonds. It lists various types of commercial bonds with examples and costs. Commercial surety bonds are often required by government agencies at the federal, state, or local level. Continue reading Infographic : Types of Commercial Surety Bonds Explained
The infographic titled “A Few Types of Commercial Surety Bonds” details various types of commercial surety bonds. Commercial surety bonds are required to satisfy or guarantee governmental legislation, fiduciary obligations, and private contractual responsibilities of the applicant or the principal under the bond. Continue reading Infographic : An Insight into Different Types of Commercial Surety Bonds
The infographic “Learn All About Construction Bond Claims” describes the important details about construction bond claim, like the definition, what a claim includes, and the things related to sending a construction bond notice. A construction bond claim is used to claim payment on a state, county, or municipal construction project. It is important to know that the lien rights do not apply to state-owned property, as the state government won’t permit anyone to foreclose on its land. Continue reading Infographic : Things You Must Know About Construction Bond Claims