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..
Tag: Vehicle Dealer Bond - page 2
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..
There are three basic type of bonds used within the construction industry. They are the bid bond, the performance bond and the payment bond. These three basic types of bonds are used to guarantee that contractor will perform the work contracted, at the price contracted within the period of time contracted. If this doesn’t occur..