Payment Bonds – type of surety Bond

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Payment bonds are a type of surety bond that is required by contractors to guarantee that all parties involved in the project including the subcontractors, material suppliers and workers will be paid, regardless of the project’s completion. The cost of these is based largely upon the contract value of the job, and they should be presented along with performance bonds. Therefore, all contractors who want to find work in their state will need to be eligible for these bonds. Continue reading Payment Bonds – type of surety Bond