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Small Bond Applications for Contractors

Small Bond Applications for Contractors

In the world of construction, bonding plays a crucial role. For many contractors, obtaining a bond isn’t just a mark of credibility, but also a legal necessity for many projects, especially government ones. For those who are unfamiliar or just starting, understanding the smaller nuances of bonds can be daunting. One of the initial steps…

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Construction Bonds for Contractors

Construction Bonds for Contractors

Most construction projects require contractors to provide bonds, which protect the owner against non-payment, lack of performance, shuttered business, or warranty issues. Also known as contract bonds, construction bonds guarantee the bondholder will fulfill the contract terms. Contractors generally purchase construction bonds to protect project owners from monetary loss. If an issue arises, the owner…

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Electronic Surety Bonds

Electronic Surety Bonds

The establishment of electronic surety bonds is owed to the National Multistate Licensing System and Registry (NMLS), an organization that simplifies the process of obtaining and validating professional credentials, such as licenses, across different states. The creation and prevalence of electronic surety bonds are primarily due to NMLS’s advocacy for their adoption and their provision…

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We’re moving July 13-14th!

We’re moving July 13-14th!

To Our Construction Bonding Specialists Friends & Customers, Our office will be closed: at 1:00 pm on Thursday, July 13th, and all day on Friday, July 14th as we pack up our office and move to our new location in Novi! As of Monday, July 17th, our new office will be located at: 42400 Grand…

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Finding Contractors for Subcontracts

Finding Contractors for Subcontracts

Relationships are vital in the commercial construction industry, specifically between general and trade contractors. While general contractors subcontract work to a variety of subcontractors, trade contractors focus mainly on projects given to them by general contractors, making this dynamic for both sides mutually advantageous. The partnership between subcontractors and general contractors can be complex. General…

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Government Construction Contracts

Government Construction Contracts

Construction firms highly covet commercial government contracts, as public spending on construction projects exceeds hundreds of billions of dollars yearly, making them a lucrative opportunity. While most construction firms rely on government contracts as their sole source of revenue, others bid on various public and private jobs. Public construction contracts are governed by lengthy laws,…

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