Mar
You take on a project and realize you require a performance bond for it. Have no idea what it is? Don’t worry. In this blog post, we break down performance bonds and how it works.
Mar
Are you aware of the differences between a contractor who is bonded and another who is licensed? With rising competition in the industry, it is imperative that you find out. Sifting through multiple contractors to find the most eligible contractor who also offers the most reasonable prices may leave you overwhelmed.
Mar
For some, lack of knowledge and the underwriting required for surety bonds can often be overwhelming, deterring them from diving into the immense opportunities it beholds. Most Americans don’t know what a surety bond is. A majority of them confuse them with investment vehicles like securities when they are extremely different.
Feb
The New Year brings with it tons of responsibilities including renovations, commitments and plenty of other financial obligations. There are hardly enough hours in the day to keep track of surety bond renewals. If you forgot to renew your surety bond by the end of the year, it’s not the end of it. All bonds don’t need to be renewed by December 31st.
Feb
Regardless of the industry, all entrepreneurs and business owners start their ventures with almost the same checklist—business plan, legal aspects, licensing and registrations, revenue model, and of course, that fancy logo.
Feb
Even though there are plenty of types, surety bond is an assuring agreement between three parties. The parties are the principal (bond applicant), the obligee (project owner/client) and the surety (bond issuer). Simply put, surety bonds protect obligees from cases of fraud, penalties and abuse.
Feb
Are you shopping around for surety bonds to perhaps save some money? Look no further. While surety bond rates can vary largely depending on the provider, bond type and amount—partnering with the right bond provider can help you save big bucks.
Feb
Renovating an existing home or taking on a new construction project is often a huge risk. With the massive number of contractors in the market, it is often a challenge finding one that meets all your requirements, in terms of quality and cost. What sets apart quality contractors from incompetent ones are factors like licenses, insurance and bonds.
Feb
Warranty bonds are a form of surety, typically used in the construction industry to ensure that a project is completed per the code and with the best quality materials. If the work or materials are sub-par, then the contractor is obligated to remedy the issues or his bond will be subject to a claim. The bond ensures that the owner of the project has recourse in case problems arise during the project’s maintenance period.