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How Does International Moving Work?

Did you know that 1 out of every 3 American says they are willing to leave the States? Are you one of them too? Are you moving across borders or...

on Dec 14, 2018

Top Home Exterior Repairs and Projects to Tackle in Spring 2019

As most of us are buckling down for a long winter season, it may be that your thoughts are elsewhere and you could in fact be looking ahead to next...

on Dec 12, 2018

Benefits of Adding Retaining Walls to Your Lawn

Retaining walls play an integral part in supporting your lawn’s foundation and landscape. It can provide both practical and aesthetic value...

on Dec 8, 2018

Five Ways to Fund Your Property Purchase

Property purchases can be funded in a variety of ways. Whether you are looking to buy a home or a commercial property of any kind, it’s worth...

on Dec 7, 2018

3 Things to know before Hiring a Moving Company

Do you plan on hiring a moving company to move your home? We are going to cover 3 things you should carefully look over before choosing a...

on Dec 6, 2018

What does a Bonded Contractor Mean?

by Guest 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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