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When an owner requires a contractor to post a payment and performance bond, the contractor, invariably, provides a bond in the form of AIA Document A312-2010. The payment portion of the bond is ...

Knowing what a contract bond is helps contractors, project owners, and stakeholders understand how to secure performance and payment in construction or service agreements. These bonds are common in ...

Owner concludes that Contractor is in default of the Contract and provides notice to the Surety of a default under the commonly-used AIA-A312 Performance Bond. Owner dutifully follows all of the ...

Bid bonds guarantee that contractors complete projects they bid on, often for public or government jobs. If a contractor fails, a performance bond replaces the bid bond, ensuring project completion.

Surety bonds serve as a safeguard to ensure the fulfillment of contractual obligations and help owners manage the risks that ...

Q: I’ve been a contractor for years and never been asked for a bond. But a new client insists on it. Can you help me to understand bonding? A: Surety insurance is unique: The surety company’s ...

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 ...

Contractor default inflicts huge losses on everyone involved — on contractors and project owners alike, though in different ways — and can delay, and ultimately stop, a project. This is why surety ...

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 ...

Construction bonds ensure project completion and quality, protecting owners if a contractor fails. Contractors must provide financials and project details to secure bonds. Multiple bond types cover ...

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, ...