The bonding process may seem like a paperwork inconvenience. The reality though is that without the financial support of bonds and the financial backing of surety bonding companies that often times the final result would not happen. This is why surety bonding is so important throughout construction process. Bonding ensures that all parties involved in..
Tag: Construction Bond - page 2
If you are confused about hiring a contractor to do work around your home you are not alone. The terminology is a bit confusing, laws in each state are different and regulations are constantly changing which makes the whole process of hiring contractors to perform work on your home is difficult. Licensing within different trades..
When hiring a contractor there is a big difference between contractors that are insured, a contractor that is bonded or one that is both insured and bonded. Exactly what are those differences and how do they affect you as a homeowner? When a contractor is bonded and insured it offers an incentive for homeowners to..
Surety bonds are often associated with insurance. This is understandable for a few reasons. Bonds provide coverage for losses that are incurred and are often sold by insurance agents. The difference however is that with surety bonds they must be noted where as regular insurance does not. In the article below we will discuss several types..
A construction surety bond is commonly known as a contractor’s license bond. It is used to make sure that a construction project is completed as stated within a given contract. In the event that the contractor is unable to complete said contract on time, within budget or other ramifications stated within the contract the..