An increasing number of contractors are obtaining surety bonds and enjoying the multiple benefits granted by them. A contractor with a surety bond has been judged capable of fulfilling the obligations laid out in the bond. Surety bonds help contractors maintain solid relationships with their clients.

Surety bonds are almost always required before work can begin on public projects, especially those which are federally funded, but private project developers can also require contractors to file certain types of surety bonds before work can begin on their projects.

This video highlights key benefits contractors have through surety bonds. In addition to providing contractors financial and technical support, your surety can also provide guidance advice and professional services to help you increase your bonding capacity. With surety bonds, a contractor’s assets are not tied up since no tangible security is required, thus allowing reinvestment in expanding their business.

Watch this video to learn more about how surety bonds can benefit contractors.