If you are a construction contractor, you deal with performance bonds as part of your business and daily work. They are necessary for almost every project you are participating or will participate in, ...

There are two types of bonds that an estimator must understand. First, there is a bid bond also called a bid security or bid guaranty. Second, there is a performance bond. Let’s take a look at the ...

Owners often require that contractors procure performance bonds to guarantee the contractor’s faithful performance of the contract. Statutes require performance bonds on public construction projects.

Real estate developments and construction projects regularly require payment and performance bonds from contractors that are seeking to be hired for a project. There are many misconceptions about what ...

Construction contracts for commercial projects, including the ongoing boom in apartment projects, routinely require the general contractor and/or the subcontractors to provide performance 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 ...

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, ...

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, ...

In the circumstance of an owner's (or its lender's) requirement that the general contractor or construction manager (collectively, “contractor”) post payment and performance bonds, the contractor, ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

From federal construction projects to janitorial, IT, and logistics contracts, BuySuretyBonds.com delivers Treasury-certified performance bonds across 50 states with 24-hour approvals and rates ...

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 ...