In many states, from the day contractors receive their licenses, they have to be bonded. They must also secure surety bonds for many projects they take on.
This guide will serve as an introduction to what kinds of surety bonds you will need as a contractor, when you will need them, how much they will cost, why you need them, and how to get them.
Continue reading “Viking Bond – Contractors Bond Guide: A Surety Bond Guide for The Construction Industry”
In order to bid for and then perform a construction project, you will likely need three bonds: a bid bond, a performance bond, and a payment bond. These three contract bonds work hand in hand to provide security for several parties involved in construction contracts.
Continue reading “How Bid, Payment and Performance Bonds Work Together”