Category Archives: Contract Bonds

Do You Need a Contractor Bond for Your Construction Project?

Bonded contractor standing at worksite

Contractor bonds are essential tools that help ensure smooth operations and the fulfillment of contracts before, during, and after construction projects. In this article, we explore these bonds in depth. Whether you’re a seasoned pro or just starting out, this guide will equip you to navigate surety with confidence. We cover why these bonds are […]

SBA Surety Bond Guarantee Program Increases Limits for First Time Since 2013

Small business contractors on a project

Effective March 18, 2024, the U.S. Small Business Administration has increased its contract limits under the Surety Bond Guarantee Program. This adjustment accounts for the 34.46% inflation since 2010.  Read on to learn how these new limits may affect your business and your ability to get bonded for larger federal contracts and other projects. SBA […]

How to Choose the Best Bonding Company for Your Construction Business

Shaking hands with agent from bonding company

In the world of construction, trust is paramount. Clients need to know you’ll deliver quality work on time and within budget. Bonding companies play a crucial role in fostering this trust by providing financial guarantees that protect clients from unforeseen circumstances. But with a myriad of bond providers in the arena, how do you choose […]

What Is Bonding Capacity (for Contractors)?

Contractor working to increase bonding capacity

Contractors will likely need various surety bonds to start and complete construction projects. These bonds may be required by the government or the project owner to protect the service recipient financially, ensuring the project they’re funding is completed as promised. As a contractor, it’s important to understand what bonding capacity is, the factors that impact […]

What Is a Completion Bond in Construction?

Contractor with a completion bond checking out the new site

In this guide, we’ll explore what completion bonds are, how they differ from performance bonds, the parties involved, how claims work, and more. We’ll also share what information you need to apply for a completion bond successfully if you need one.  In other words, we’ve got all your pressing questions covered! Read on to learn […]

Funds Control in Surety (Quick Guide for Contractors)

Contractor who worked with a surety and needed funds control for a new project

What is funds control? And when is it necessary? As a contractor, can it be advantageous to understand this concept before applying for a bond? In this article, you’ll learn how funds control works and how it protects contractors and sureties during the bonding process. What is funds control? Funds control is a process that […]