Bonding capacity determines the maximum amount of work a contractor can undertake at any given time. Securing bonding capacity is crucial for contractors looking to take on larger projects and expand their businesses. To increase this capacity, contractors need to focus on several key factors: Business net worth Business working capital Personal net worth The […]
Tag Archives: Contract Bonds
28
Apr
Apr
Bidding on projects in the public sector can be a lucrative opportunity for contractors, but it also comes with its own set of challenges and requirements. If you’re new to bidding public work, you may be surprised at some things you face that differ from the private sector. How is bidding public work different from […]
15
Apr
Apr
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 […]
24
Feb
Feb
Commercial Bonds vs. Contract Bonds: How Are They Different? There are several types of surety bonds. Two of the main categories are contract bonds and commercial bonds, which we’ll cover today. While they have overlapping similarities, they also have some distinct differences that set them apart. Read on to learn when and why you might […]