When I tell my friends and family that I work in the commercial side of insurance, and issue many surety bonds, I get a lot of blank stares. The fact is, if you’re not familiar with construction and the world of bonding, it’s likely you’re not aware that surety bonding even exists! Below I’ve a compiled a few quick tips and facts to help with familiarity and awareness of surety bonding. In its purest form, a surety bond is a financial guarantee that a contract will be upheld and completed for an owner by the contractor or principal. In construction … Continue reading
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