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Shopping for Curtains

When it comes to decorating your home, it is the little touches that help to make it perfect. We can all choose what color we want our walls and...

on Sep 29, 2016

Caring For Today's Home Theater Gear

The television has really evolved into a level of entertainment and information (infotainment) value that no one ever predicted decades ago. We can...

on Sep 28, 2016

Getting Your Home Ready for the Winter

As summer draws to an end, the days begin to shorten and the leaves begin to fall, it’s time to think about ensuring your home is ready to...

on Sep 28, 2016

5 Tricks To Save Money On Home Renovations

Houses need upkeep, unfortunately, and most people are worried about blowing the budget. That’s a valid concern since there’s a lot of...

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Problems with Frozen Locks and Solutions

Many things related to door locks might annoy us, but when the weather is truly bad and you just want to open the door and get by the fire, the...

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What does a Bonded Contractor Mean?

by 411HomeRepair on Mar 14, 2013

A bond is an insurance policy for which the contractor pays a premium. It guarantees that the contractor will meet his obligations in a satisfactory manner. Failure to do so should result in the payment of compensation by the bonding company. There are three types of bonds, payment bond, performance bond and bid bond.

Being bonded could be like getting an insurance policy that the job will be completed, and it will be done properly.

Larger commercial and almost all government jobs will require that all contractors and sub-contractors be licensed, insured, and bonded. If you can find a bonded contractor you have a good chance the job will be done properly.

One of the problems is depending on the cost of the job, the fees a bonding company charges could be high and this may be passed on to you the customer.

Performance Bonds - A bond that guarantees the project's completion according to the building plans and specifications.

Payment Bonds - A bond that assures the owner that no liens for labor and material will be filed against the property.

Contractor Bonds - A bond that guarantees both job completion and payment of all labor and material

Hire a license, bonded and insured contractor for free home improvement quotes.

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