Viewing posts categorised under: Warranty bonds
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Feb
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.