Surety bonds are an agreement involving a principal, an obligee and a surety company that issues the bond for a fee. In most cases, the obligee accepts a bid or application submitted by the principal.

There are two types of bonds that an estimator must understand. First, there is a bid bond also called a bid security or bid guaranty. Second, there is a performance bond. Let’s take a look at the ...

Placing concrete requires specialized skills and equipment. The licensing requirements for concrete contractors vary from state to state. In some states, concrete contractors need a specific license ...

Surety bonds assure project owners that a contractor can complete a project according to contract specifications. Requiring a surety bond on a project helps prequalify contracting firms based on their ...

With construction teams navigating the effects of the COVID-19 pandemic and the world’s material supply chains, securing project performance has perhaps never been at such a premium. If a contractor ...

In business, as in life, it's always good to back up your promises. If you're responsible for meeting the terms of a business deal, you can guarantee that you'll hold up your end with a surety bond.

“The surety legally binds itself to an obligee for an amount of money guaranteed to the obligee for the faithful performance of a contract or other act required of the principal (see FIG. 1). The ...

Surety and fidelity bonds are 2 options to protect your business. While they’re both bonds, each serves a different purpose. Learn more about surety and fidelity bonds now. Surety bonds are a legal ...

Emerging markets across the Global South are entering a decisive decade for infrastructure. Governments from India to Africa to UAE are all committing unprecedented capital toward transport, energy, ...

The Coal Ministry has recognised Insurance Surety Bonds as an acceptable alternative to bank guarantees for bid security and ...