Have you been told that a surety bond is the same as insurance? Or that insurance is better than a surety bond in the field of construction? There are contractors, who feel, that construction bonds are not necessary in order for their business to succeed. Unfortunately, these are often the same contractors who do not […]
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Why your Relationship with your Surety Bond Producer Matters
Your relationship with a surety bond producer is like any relationship. It needs to be a good match for what you are looking for. A healthy relationship with your surety bond producer can be beneficial. It can help lower your stresses at work and help your business grow. But, what should you be looking for […]
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How Claims Hurt
We’ve emphasized, in previous blogs, that a contractor has control in avoiding claims. The best way to avoid having a claim filed is to make sure that the contractor fulfills and documents all contractual obligations. But, if the contractor is not able to fulfill the contractual obligations, a claim may be filed. This will hurt […]
Read MoreFour Myths about Surety Bonds
In the contracting world, there are some myths about surety bonds. Do you really need one or is it just an added protection, for a costly price? This leaves the contractor with a decision to make: avoid the project or work without a surety bond. Below we dispel some of these myths: The first […]
Read MoreSurety Bonds Vs Subcontractor Default Insurance
We started a conversation on our Facebook page the other day about the differences between surety bonds and subcontractor default insurance. We wanted to delve in a little more to help you decide if a subcontractor default insurance (SDI) or surety bond is the best way to protect your business. SDIs have become popular since […]
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