As a maid, janitor, or any cleaning services provider, you may find that potential clients often insist on hiring only companies with janitorial bonds. These surety bonds ensure any cleaning services contract, and not only protect the person paying for the service, but they also protect your small business, which relies on reputation.
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A variety of construction bond is the performance bond. This type of surety bond guarantees that a project will be completed satisfactorily by the contractor who undertakes it. This is different than insurance; the surety doesn’t just pay when contractors default on work.
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A type of construction bond, a bid bond protects the developer or owner in the bidding process for a construction project. The bond guarantees that the bidder will honor the terms of their bid. If they fail, the surety backing the bond will compensate the owner.
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Do you or your business import merchandise into the United States to sell, or for other commercial purposes? If so, you’ll need to get a customs bond. Read on to find out the four things you need to know when applying for customs bonds.
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The construction industry is filled with risk. More than 60 percent of all small businesses, including smaller construction firms, contractors, and subcontractors, will be out of business within six years. The industry is also very sensitive to outside problems, such as equipment problems, economic downturns, high prices caused by trade tariffs like the recent steel tariff, labor problems, shortages of materials, and a variety of other factors.
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Are you wondering how surety bond companies like Viking Bond Service keep current in a marketplace that changes as quickly? To know how Viking Bond Service defines surety bonds in 2018, it helps to understand what a surety bond is, what the most common types of surety bonds are, and how the definition has changed in recent times.
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(Viking Bond Service’s Tom Buckner featured on the far right)
The Viking Bond Service team recently attended the annual National Association of Surety Bond Producers (NASBP) meeting and expo from April 29 through May 2 in Scottsdale, Arizona. The theme of this year’s conference was “Building on a Solid Foundation,” and the event focused on taking a look at where the industry is and where it is going.
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Confused about the value of a surety bond to your business? Great news: surety bond costs are always worth it. Here are the top reasons why that’s true.
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Ohio state Auditor Dave Yost is recommending that Ohio should require surety bonds for Medicaid providers. The Medicaid bonds would allow the state to recover overpayments and fraudulent charges more easily.
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Surety bonds play a vital role in many business activities from licensing requirements to contract protection in all 50 states, but how much do you know about surety bonds? Continue reading “How Much Do You Know About Surety Bonds? [QUIZ]”