Construction bonds are vital tools in the construction industry. A construction bond is an instrument arising out of suretyship law. A project owner may require a contractor to obtain one or more ...

There are three types of bonds that afford financial protection in connection with a construction project: payment bonds, performance bonds, and bid bonds. Below is a primer on the differences between ...

The relationship between construction management and general contracting powerhouse Crossland Construction Co. and insurance broker and surety bond producer IMA Inc., both based in Kansas, goes back ...

For most contractors working in the U.S., construction bonds are one of the major requirements they need to meet in order to even apply for a project. Still, they are often confused by these bonds, ...

A payment bond is a type of surety bond. Contractors get these bonds because most construction projects require them, and they guarantee that laborers, subcontractors and suppliers of materials will ...

Surety bonds are an agreement involving a principal, an obligee and a surety company that issues the bond for a fee. In most cases, the obligee accepts a bid or application submitted by the principal.

Construction projects today are growing in complexity as labor shortages, supply chain issues, and rising costs persist. As a result of unpredictable risk exposures like these, surety bonds continue ...

Lowering the cost of required surety bonds can help construction subcontractors reduce the monetary burdens - here are seven tips to help reduce those costs Mar 8, 2018 Running a business as a ...

For construction attorneys, it's now critical to understand the ins and outs of surety bonds and how they're used in the context of private projects. During uncertain times, people look for a security ...

A surety bond is a three-party contract between a principal, obligee and a surety. Surety bonds also are regulated by state insurance departments. The principal has an obligation to the obligee to ...