The most common types of surety bonds that a construction contractor will run into other than their contractors license bond are bid bonds, performance bonds, and payment bonds. All of these bonds ...

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 ...

When an owner requires a contractor to post a payment and performance bond, the contractor, invariably, provides a bond in the form of AIA Document A312-2010. The payment portion of the bond is ...

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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 ...

Performance bonds guarantee project completion, reducing investment risk. Investors can seek these bonds to secure against contractor failure. They provide a safety net, improving the reliability of ...

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 ...

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, ...

Contractor default inflicts huge losses on everyone involved — on contractors and project owners alike, though in different ways — and can delay, and ultimately stop, a project. This is why surety ...

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 ...

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 ...

Court rules that a notification of award does not constitute a binding contract, dismissing a Sh232 million damages claim ...