Did you know that you may need surety bonds for private construction jobs? Many private project owners these days require contractors to get bonded before bidding or taking on a job. This guarantees the owner will be protected if something goes wrong, such as the contractor reneging on the contract or damaging property midway through […]
Category Archives: Contract Bonds
17
Sep
Sep
The Illinois Department of Transportation (IDOT) plays a crucial role in shaping the state’s transportation network, developing and maintaining its highways, bridges, and transit systems. Securing an IDOT contract can lead to stable work and significant revenue for your business. This guide will help you navigate the qualification process to successfully bid on IDOT projects, […]
11
Sep
Sep
If you’re a contractor or project owner seeking clarity on maintenance bonds, including coverage requirements, costs, and key differentiators from warranty and performance bonds, you’ve come to the right place. In this blog post, we’ll explore all aspects of maintenance bonds, providing valuable insights and helping you navigate the world of surety bonds.
10
Sep
Sep
Winning contracts with the Missouri Department of Transportation (MoDOT) presents a significant opportunity for contractors aiming to engage in public infrastructure projects. The Missouri DOT is responsible for maintaining and enhancing the state’s transportation infrastructure, including highways, bridges, and transit systems. For contractors, securing a MoDOT contract can lead to substantial revenue and the chance […]
07
Sep
Sep
The Minnesota DOT maintains and enhances the state’s transportation infrastructure, including highways, bridges, and transit systems. For contractors, winning a MnDOT contract provides substantial revenue and a chance to contribute to critical public works projects. This guide will help you understand and navigate the qualification process for MnDOT projects. What is MnDOT bid letting? MnDOT […]
29
Aug
Aug
When applying for a surety bond, particularly in industries like construction and law, understanding the concept of collateral and its significance can empower you to navigate the bonding process with confidence and knowledge. Collateral is sometimes a requirement from a surety for a high-risk bond. Other times, it can be a viable solution for a […]
24
Aug
Aug
It’s common for contractors to face challenges when it comes to obtaining the contract bonds needed to win, start, and finish projects successfully. Fortunately, there are several solutions for hard-to-place contract bonds. Whether you have a large bid spread, had a rough year financially, have less-than-ideal credit, or lack the experience needed to win the […]
12
Aug
Aug
Prospective contractors must obtain a contractor license bond to work in the U.S. These bonds are required across the United States for various types of contractors, both residential and commercial, at the local or state level. Contractor license bonds will protect clients, the public, and the government that may be affected by a contractor’s work […]