Construction Bonds 101 [3 Steps to Getting Your First Contract Bond] Many companies do not pursue public work, simply because of the fear of having to obtain a surety bond. Bid bonds, performance bonds, payment bonds, and maintenance bonds are often required on every public construction project. I know this thought of potentially having to […]
Category Archives: Surety Bonds
02
May
May
“You want to find a contractor that is bonded and insured.” You hear this sentiment echoed all the time, from contracting companies screening new hires to homeowners considering a renovation. And it’s absolutely true. As a contractor, being insured and bonded is a fundamental part of the job description.To compete in the job market as a […]
01
Apr
Apr
Surety bonds can be confusing, so we’ve created a comprehensive glossary of terms and definitions to help. It can act as your guide as you navigate the world of surety. As a reminder, a surety bond is a three-party agreement that binds together a surety company, a principal, and an obligee. The surety company provides […]
10
Mar
Mar
If you’re a licensed professional, contractor, or business seeking to work on a government project, you’ll likely need to purchase surety bonds throughout your career. Learn where surety bonds come from and the best companies to work with when you need to obtain one. Who provides surety bonds? Here are the three main entities that […]
24
Feb
Feb
Commercial Bonds vs. Contract Bonds: How Are They Different? There are several types of surety bonds. Two of the main categories are contract bonds and commercial bonds, which we’ll cover today. While they have overlapping similarities, they also have some distinct differences that set them apart. Read on to learn when and why you might […]
02
Jan
Jan
What is a Surety Bond? A Beginner’s Guide. A surety bond is a legally binding contract ensuring that one party keeps its promise to another. If someone fails to keep their promise, a surety company will compensate the party who experienced the loss. Then the party at fault for breaching the contract will have to […]
- 1
- 2