Category Archives: Contract Bonds

You already know that you need surety bonds to work on public construction projects. The Miller Act made sure of that – requiring contractors planning to work on any contract exceeding $100,000 to post a payment and performance bond. From bidding on a project to accepting and completing it to the quality and specifications outlined […]

Commercial bonds and contract bonds are often required for certain businesses to operate in a state or get hired for jobs. This article will discuss the differences between the two and go into more detail about various types of contract bonds. Key Takeaways The government often requires commercial bonds for an organization to secure a […]

“How can I qualify for a bid, performance, or payment bond?” The answer to this question will depend on the size of your project. The larger the job, the more information you will need to provide for surety bond qualification and to obtain your bond. Qualifying for Bonds on Small Jobs If the bond is […]

A surety bond is a financial guarantee. For a surety company to accept the risk of providing this financial guarantee, it must undergo an underwriting process to determine the risk level of the principal who needs the contract bond. Below we define commonly requested underwriting information and address why a surety company may ask for […]