If you are a construction contractor, you deal with performance bonds as part of your business and daily work. They are necessary for almost every project you are participating or will participate in, ...

There are two types of bonds that an estimator must understand. First, there is a bid bond also called a bid security or bid guaranty. Second, there is a performance bond. Let’s take a look at the ...

Knowing what a contract bond is helps contractors, project owners, and stakeholders understand how to secure performance and payment in construction or service agreements. These bonds are common in ...

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Construction bonds ensure project completion and quality, protecting owners if a contractor fails. Contractors must provide financials and project details to secure bonds. Multiple bond types cover ...

For most contractors working in the U.S., construction bonds are one of the major requirements they need to meet in order to even apply for a project. Still, they are often confused by these bonds, ...

Bid bonds guarantee that contractors complete projects they bid on, often for public or government jobs. If a contractor fails, a performance bond replaces the bid bond, ensuring project completion.

Placing concrete requires specialized skills and equipment. The licensing requirements for concrete contractors vary from state to state. In some states, concrete contractors need a specific license ...

When representing clients in negotiating and drafting construction agreements for private construction work, I am often asked: Should we require the contractor to provide a bond? This question doesn’t ...

Surety Solutions Insurance Services, Inc. (Surety1) announces a new surety bond program for small contractors that do not want to pay 3% or more for surety bonds. Exceptionally qualified contractors ...

A surety bond is a way of ensuring that a business makes good on its obligations when it's hired to do a job. Many, or all, of the products featured on this page are from our advertising partners who ...

The High Court has rejected a contractor’s attempt to stop a bank paying a developer almost £2.5m under a performance bond. The Technology and ...