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How to Keep Your Home Running Properly

Having a home is a major responsibility. Between the bills and the upkeep, it can be a lot to handle, but ensuring that your home runs properly is...

on Dec 19, 2014

5 Ways to Improve Your Home's Energy Efficiency

Are you wondering how to make your home energy efficient? Becoming more efficient can have a vast impact on your electricity bill and make it much...

on Dec 10, 2014

Concrete Foundation Repair Methods

If you have noticed when looking at the outside of your home cracked foundation, displaced moldings, cracked bricks, or separation from windows or...

on Dec 8, 2014

10 Innovative Ways to Make Extra Storage Room

Most people run out of storage space in their homes. If you’re a busy family with countless hobbies and interests, the need for extra storage...

on Dec 5, 2014

Commercial Property DIY: Three Jobs You Should Never Try Yourself

There are some DIY projects that most people can do in their own home, and these can be tackled by anybody with a little knowledge and the correct...

on Nov 29, 2014

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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