The cost of insurance is a rather minor expense compared to the benefits contained in the cover. The amount paid every month does not compare to the kind of risk you expose yourself to by failing to undertake the cover. If you think of insurance as an additional...
What is a Bid Bond? Welcome to part 1 of our 2 part educational series on Bid Bonds Bid bonds are not an insurance policy, they are a written guaranty from a third party guarantor like a surety company or insurer. A guaranty is submitted to a project owner by a...
What can I do if my credit score is below 700? Welcome to part 2 of our 2 part educational series on Bid Bonds. In situations where the personal credit is not very good, a credit report should be obtained particularly when obtaining a bid bond. This report should be...
Last year, in the midst of selling my house, I left the keys with a friend and flew off on a business trip to Dallas. It was only for the weekend, and after all, I knew I could trust that Alfred would watch after the place and take care of Snowy,...
A legal contract surety bond is a three party contractual agreement where the surety guarantees the oblige (the project owner) that the principal (the contractor) is capable of carrying out the contract in accordance with the contract documents. People may find it...
Managing the risks on your construction projects and choosing the best option to make sure that your project gets done on time, is very important to running a successful business. When this is not being taken seriously, especially when dealing with a contractor or a...
