- Kitchen / Bathrooms — 177
- Garden / Landscaping — 153
- Appliance / Repair — 140
- Interior Design / Decor — 107
- Floors / Tile / Hardwood — 91
- Real Estate / Finance — 74
- Bedroom / Furnishings — 61
- HVAC / Air Conditioning — 55
- Builders Associations — 52
- Windows / Siding — 52
- Cleaning / Maintenance — 51
- Construction / Materials — 49
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.
Most Recent Articles
- Jun 11, 2016 How to Find a Reliable Roof Repair Company by Charlie Brown
- Jun 11, 2016 Save the Value of Your Home with Professional Foundation Repair Services by Charlie Brown
- Mar 22, 2016 What to Look for When Hiring a Kitchen Remodeling Contractor by James Rodgers
- Jan 8, 2016 Key Factors to Look For in Professional Furniture Removalists by Charlie Brown
- May 20, 2015 3 Things to Look for in a Plumbing Repair Company by Guest