Construction bonds are vital tools in the construction industry. A construction bond is an instrument arising out of suretyship law. A project owner may require a contractor to obtain one or more ...

There are three types of bonds that afford financial protection in connection with a construction project: payment bonds, performance bonds, and bid bonds. Below is a primer on the differences between ...

The relationship between construction management and general contracting powerhouse Crossland Construction Co. and insurance broker and surety bond producer IMA Inc., both based in Kansas, goes back ...

Surety construction bonds are a fact of life if you work in the building industry. Government projects and much private-enterprise construction require you take out a surety bond to get the job. This ...

A payment bond is a type of surety bond. Contractors get these bonds because most construction projects require them, and they guarantee that laborers, subcontractors and suppliers of materials will ...

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, ...

Construction projects today are growing in complexity as labor shortages, supply chain issues, and rising costs persist. As a result of unpredictable risk exposures like these, surety bonds continue ...

Lowering the cost of required surety bonds can help construction subcontractors reduce the monetary burdens - here are seven tips to help reduce those costs Mar 8, 2018 Running a business as a ...

Surety insurance is a popular but inaccurate term used to refer to surety bonds. A surety bond is a sum of money one party puts up as a guarantor of good faith. Surety bonds often involve considerable ...

WASHINGTON, Nov. 17, 2022 /PRNewswire/ -- A new study released today, The Economic Value of Surety Bonds, finds public and private construction projects protected by surety have lower rates of ...