When performance bonds are required after winning a bid, your focus should be on gearing up for the project, not whether or not your bonding capacity is sufficient, and/or whether or not the new performance bond will become a barrier to you being able to secure a bid bond for your next bid opportunity. Part …
A performance bond can be a necessary surety bond to have whether the construction job is private or public, and a contractor has a few options to choose from when needing to get a performance bond for the project. While it may not seem like an important decision to make, where you get the performance …
Does It Matter Where I Get My Performance Bonds? 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. …
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 »
Considering that both bid bonds and performance bonds are essential to the construction industry, it’s important to understand the details of a bid bond vs. performance bond. There are several key differences between the two that not only help your bidding on projects but can grow your contractor business if both bonds are handled well. …
If you’ve ever worked on a public works project, you’ve no doubt been required to get a performance construction bond prior to starting the job. What you may not know is how surety companies calculate the cost of the performance bond you are acquiring. And that’s completely understandable as the way bond rates are determined …
Understanding The Cost of A Construction Performance Bond Read More »
Our mission at CSBA is to help contractors navigate the complex world of surety bonds so that they can win the jobs that will take their business to the next level. If you’ve recently launched your own company or are pursuing performance and payment bonds for the first time, we understand that you have questions about the process. We’ll …
Performance Bonds vs. Payment Bonds: What’s the Difference? Read More »