Bid bonds and payment bonds are both surety bonds that are commonly required in the construction industry. But they serve different purposes and are required at different points in the contracting process. Let’s take a closer look below at bid bonds vs payment bonds, so you can understand the difference.
Read moreIn Massachusetts, general contractors are called Construction Supervisors. Anyone who wants to operate as a general contractor in Massachusetts needs a Massachusetts Construction Supervisor License—either restricted or unrestricted. Learn how to get a contractor’s license in Massachusetts below, and work with Surety Bond Professionals to get a contractor license bond.
Read moreThe construction bidding process for large public works projects is not quite the same as the process for bidding on smaller, private projects, but they share certain elements. That’s because the end goal is essentially the same—finding a qualified, affordable contractor. Sometimes that means choosing the contractor offering the lowest bid, but more often it means awarding the contract to the bidder offering the best value—the best combination of technical qualifications and cost. To arrive at that decision, project owners go through a series of steps in a predictable order. Here is some important information to know about how construction bidding works.
Read moreWhether you’re new to the bonding process or just want to clarify some things, our experienced surety agents at Surety Bond Professionals are here to help. Learn how to get bonded for construction below, and feel free to contact us today with any questions you may have.
Read moreNo industry involves a greater variety of surety bonds than the construction industry. Surety bonds are required in order to bid or work on virtually all public works projects and many private construction projects, including both new construction and remodeling.
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