Infographic: The Process of Construction Bond Claims

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The Infographic“How can I file a claim for a Construction Bond?” explains how to file a claim for a construction bond in the U.S. It also mentions the steps involved in sending a construction bond notice as well as the factors on which the claim is investigated before approval.

Since a Construction Bond claim is made to claim payment on any construction project carried for a state, county, or municipal body, the amount varies based on the project and the terms of agreement. If the contractor does not fulfill their obligation of the contract for any reason, the surety company is required to reimburse the project owner, or principal, for their losses.

If you wish to file a construction bond claim for recovering your due payment, you will need to include the following information in your claim:name, address, number, the name of the construction project, location, and more. Once your claim notice has been received by the concerned authority, they will start the process of investigating the claim. To learn more, refer to the infographic below.