411homerepair.com

What does a Bonded Contractor Mean?

by 411 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

Contact a licensed, bonded, and insured contractor for free home improvement quotes.

Latest Articles

How Much Does It Cost To Take A Bath​?

Plumbers know that a bath may seem like a relaxing luxury, but the real cost extends far beyond your water bill. The average soak uses 35 to 50...

on Apr 8, 2025

10 Concrete Patio Ideas on a Budget

A concrete patio can be a game-changer for your outdoor space. It is durable, versatile, and can be customized to fit your style. But what if you...

on Mar 25, 2025

Tips for Creating a Stunning Personalized Photo on Canvas

Order the unique beauty of a personalized photo on canvas and bring your memories to life. With a customized photo on canvas, you can transform...

on Mar 7, 2025

Best Areas to Buy Property in Singapore for Long-Term Growth

Singapore's real estate market remains one of the most stable and lucrative in the world. With limited land supply, strong governmental...

on Feb 18, 2025

Troubleshooting Excess Water in Your HVAC Secondary Condensate Drain Pan

When maintaining your air conditioning system, it is easy to overlook the condensate drain pan - until excess water starts pooling in places where...

on Jan 12, 2025

Sponsored Articles

Actions

More DIY Articles

3 Types of Basket Storage You Cannot Live Without

When it comes to organizing your home, you have a lot of different storage options. Everything from crates and barrels to enormous bags and boxes...

Interior Design / Decor

3 Signs You Should be Calling a Plumber Immediately

In some cases, plumbing problems might seem minor, but they may be a symptom of something much more serious. As homeowners, we always try to...

Plumbing / Basements

3 Ways to Save Money During Home Improvements

Do It Yourself can not only be lots of fun, but it can also allow you to have the home that you have always wanted. You have worked hard for your...

Improvements / Remodeling

5 Steps to Getting the Right Roof Replacement for Your Home

Just like other remodeling projects, the cost of replacing your roof could be prohibiting, particularly depending on the size of your home and the...

Roofing / Gutters

A Few Things to Keep in Mind When Choosing Your Homes Exterior

There is more to the outside of your home than just looks. Mother Nature can be very aggressive when she deals with snow, wind, heat, rain, etc....

Windows / Siding

Contact Us | Submit Article | 411homerepair © 2025