Category Archives: Contract Bonds

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 […]

Becoming a contractor can be a fulfilling and rewarding career choice. You’ll have the opportunity to lead projects, showcase your skills, and build a successful business. If you’re interested in a career in construction, this guide is a great starting point.

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 […]

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 […]

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 […]

If you’re a contractor or involved in bidding on construction projects, this post will equip you with valuable insights. We’ll dive into what a bid bond is, how it works, the costs involved, and the application process. What is a bid bond? A bid bond is a type of construction bond that guarantees a contractor […]

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 […]

Construction projects demand extensive collaboration between multiple parties, such as contractors, subcontractors, suppliers, and project owners. In this intricate web of transactions, it’s crucial to establish a reliable system that protects the interests of everyone involved and guarantees timely payments for the hard work and resources invested. Enter the payment bond – a powerful tool […]