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Secure Bid, Performance & Payment Bonds for Public Construction Projects Nearly all public construction work in the United States is completed through private sector firms. Generally awarded to the lowest responsive bidder through a competitive bid system, surety bonds are essential in this process. Corporate surety bonds enable government sectors (states, cities, townships, schools, and…
Read more March 23, 2021Get Your Bid, Performance, or Payment Bond Now! Bid Bonds Bid Bond is a prequalification indicating that the contractor is bondable for the performance and payment bond should they be read low or chosen by an Owner/GC/CM that they will enter into the contract and provide a Performance and Payment Bond. Performance Bonds Performance…
Read more February 2, 2021Contractor License or Permit Bond: A contract license or permit bond involves three different parties: the obligee, the principal, and the surety. It is a promise that the surety makes to pay the obligee in case the principal fails to fulfill their statutory requirements. These bonds are typically required by cities, states, and municipalities. Contractor…
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An appeal bond is required of a petitioner to set aside a judgment or execution from which the other party may be made whole if the action is unsuccessful. These bonds help protect the court from frivolous appeals that cost the court time and money. Appeals are always posted by the losing party in a…
Read more October 6, 2020A subdivision bond is typically purchased by a landowner or developer when upgrades and/or changes are required by a local government authority. It guarantees the work is completed according to the terms set forth. In the agreement with the city, township, or municipality. Examples of Subdivision Bonds These bonds provide financial assurance that the landowner will…
Read more August 31, 2020Submit An Online Application for $400,000 or Less with Rapid Bond If you’re in need of a surety bond fast and it’s $400,000 or less, Construction Bonding Specialists can help! Our Rapid Bonds can be submitted online simply by going here: https://www.bondingspecialist.com/rapid-bond If you have questions about any of our bonding services, give us a…
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