Surety bond rates are determined on a case by case basis, which makes it much more difficult to know if you’re paying too much for your surety bonds. It’s tempting to point a finger at the surety company and say they’re simply charging too much, but there are several things a contractor can do to […]
How to Know if You’re Paying Too Much for Your Surety Bonds Read More »
Whether you’re looking into bonding for the first time or have reached a point where CPA statements are part of the bond requirements, you may find yourself wondering if financial statements from a CPA are always required for bonding. To answer that question and ensure you understand why someone would require a financial statement prepared
Are Financial Statements from a CPA Always Required for Bonding? Read More »
Increasing your bonding capacity provides you with the ability to bid on larger and larger jobs, increasing the growth of your company and furthering your success. How to increase your bonding capacity is where many contractors get lost, which is understandable as there can be a lot of moving parts to consider. There are three
3 Things Contractors Can Do to Increase Bond Capacity Immediately Read More »
There are many terms in the construction industry that may seem alien or confusing to a contractor, especially if they’re similar. One good example of terms that can confuse is bid bond vs. bid security and what the difference is. Beyond knowing that bid bonds can often be required in order to bid on a
Bid Bond vs Bid Security Read More »
The surety world can be confusing for contractors as there are many kinds of bonds you’ll be faced with in order to bid on public construction projects or when required for private ones. It’s easy, especially when newer to obtaining a surety bond, to mistake one kind of bond for another type of surety bond.
Surety Bond vs. Performance Bond Read More »
There are several kinds of surety bonds contractors might be required to provide, especially if seeking public works construction projects. Some of these bonds are required in different industries as well, so it’s a natural question to ask what a contractor payment bond is. Some bonds can even sound similar to each other or use
What is a Contractor Payment Bond? Read More »
When a contractor is required to obtain a bid bond, perhaps for the first time, you’ll likely come across information speaking to bid guarantees and wonder what the difference is between them and bid bonds. The surety world can be complex, with financial terms and processes that are alien to most contractors. Below you’ll find
Bid Guarantee vs. Bid Bond Read More »
There are several types of surety bonds that are important to the construction business, but just knowing what they are isn’t enough to take advantage of the opportunities in bonding. It’s important to understand how a payment bond works and how it applies to your bidding on a job. Before covering how do payment bonds
How Does a Payment Bond Work? Read More »
Whether you’re a seasoned contractor or newer to having your own business, you’ll likely soon be in a situation where a surety bond is required. While there are many questions contractors have around surety bonds in general, one popular one is: What types of contracts usually call for a performance bond? Before we can list
What Types Of Contracts Usually Call For A Performance Bond? Read More »
What a bid bond is, when it’s required, and what the requirements are to get one are all important things to understand as a contractor. They are often an important part of getting the construction jobs you’re after and failing to understand the process of getting one not only can cost you the bid but
When is a Bid Bond Required? Read More »
