Tagged: Bid Bond

The Importance of Surety Bonds

Many business owners see the bonding process as one big pile of inconvenient paperwork. The reality however, is that without the financial support of bonds along with the financial backing of surety bonding companies the entire construction process would be askew. This is why surety bonding is so important throughout the construction process. Bonding ensures that all parties involved in a project are covered financially in order to complete the project at hand. With bonding if even one party defaults on a contract the project will still have the financial backing needed to continue. Performance bonds are in place to...
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