Category: Bonds

We all know the importance of being bonded as a contracting business. It’s a safety blanket for you and for your principal in case things go bad on the job. It’s a sign of confidence that you have the ability to stand behind your word and your work. It’s a good faith manner of binding …...

One common misconception about surety bonds is that they are just another form of insurance. That’s right in the sense that they offer a sense of security that you can complete the work you promise to complete. It’s not technically correct in the traditional sense of what insurance is and what i...

Surety bonds are absolutely vital to the construction industry. They provide confidence to your employees and clients that you, as a business, are able to live up to your obligations, complete the work you agree to complete, and live up to all of your contractual obligations. They’re peace of mind...

Most good businesses out there advertise themselves as being “bonded and insured,” which can seem confusing, as most people think that bonds and insurance are the same things. Isn’t that phrase, then, redundant? The truth is that no, it’s not precisely redundant; there are certain important ...

Contractors are frequently required to obtain surety bonding before they can be eligible to participate in a project. This requirement stems from the U.S. Miller Act, which set a precedent that publicly funded projects valued at $100,000 or more must be secured by performance and payment bonds. Thes...