If you want to be a successful contractor in the United States, you’re going to have to deal with surety bonds. The bonding process can get pretty confusing which is why it helps to do a little research before you buy. One of the most common things you’ll run into when researching surety bonds i...
Month: March 2018
Washington, DC, Little Miller Act
When you bid on a government project in our nation’s capital, there are certain kinds of bonds that you will be required to provide and post. These bonds are those that fall under the District of Columbia’s Little Miller Act. Based on the Federal Miller Act, almost every state has a Little Mille...
Key Components in Determining How Much Does a Contractor Bond Cost
Contractor bonds are essential in the construction industry as they bind the construction company, the company’s client and the surety together. They are essential for keeping everyone accountable for the agreed upon project. You’ll be hard pressed to find a project that doesn’t require a cont...
Key Differences in the Bid Bond vs Performance Bond Question
Two of the most important kind of surety bonds for any construction project are bid bonds and performance bonds. While both can be important, there are some major differences in the bid bond vs performance bond question. If you want success in your next contract, you need to know the differences. Th...
What is Bid Bond and Performance Bond and Why They Matter
The two primary types of surety bonds used for construction projects are bid bonds and performance bonds. While both can be essential to your project, it’s important to know the difference between them and why they matter. Before you sign on for any surety bond, you need to make sure you have the ...