Contracting businesses of just about every size have to deal with the surety bonding process at some point in time. When you start the process it can seem frustrating and confusing at first, as you run up against unfamiliar statutes and terms like “Little Miller Act.” While it’s important that...
Month: February 2018
Key Differences in the Performance vs. the Payment Bond Question
Performance bonds and payment bonds are two of the most common and important surety bonds you’ll deal with on a regular basis in your construction or contracting business. They provide not just peace of mind and a good reputation for you, but vital coverage should something go wrong on the job and...
Performance vs. Payment Bonds: Why the Difference Matters
As you set out to get your company bonded for your next project, it’s important to understand the different kinds of bonds you’ll face. Two of the most important are performance bonds and payment bonds. While both are likely required for government projects under your state’s Little Miller Act...
Factors That Go Into How Much Does a Surety Bond Cost
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 …...