A surety bond is a legally binding contract ensuring one party keeps its promise to another. If someone fails to keep their promise, a surety company will compensate the party who experienced the loss. Then the party at fault for breaching the contract will have to pay the surety back. Confused? Hey, that’s okay! That’s […]
Tag Archives: what is a surety bond
02
May
May
“You want to find a contractor that is bonded and insured.” You hear this sentiment echoed all the time, from contracting companies screening new hires to homeowners considering a renovation. And it’s absolutely true. As a contractor, being insured and bonded is a fundamental part of the job description.To compete in the job market as […]