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?
A performance bond is a type of surety bond used in contractual projects to make sure that the contractor adheres to all the terms and condition of the contract and deliver the work on time. It also makes sure that the contractor does not go beyond the budget and meets the deadline. Continue reading Everything about a Performance Bond