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 ...

Scott Mollen discusses "JDS Dev. LLC v. Parkside Constr. Bldrs. Corp.," and Levy v. NYS Div. of Hous. & Community Renewal." Construction—Performance Bond—Noncompliance With Condition Precedent Bars ...

A payment bond is a type of surety bond. Contractors get these bonds because most construction projects require them, and they guarantee that laborers, subcontractors and suppliers of materials will ...

Depending on one’s level of surety knowledge, some may call them payment bonds, another may say performance bonds, but insiders know they usually work collaboratively. Payment and performance bonds, ...

Surety bonds are a means for independent contractors and small businesses to guarantee their performance under a contract. Surety bonds financially compensate the client if the contractor does not ...

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, ...

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 ...

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 ...

Surety Solutions Insurance Services, Inc. (Surety1) announces a new surety bond program for small contractors that do not want to pay 3% or more for surety bonds. Exceptionally qualified contractors ...