by admin | Jan 15, 2024 | Insurance, Surety Bonds
A surety bond is a financial instrument designed to protect the parties involved in a contract. It indemnifies these parties against the risk of a broken or failed contract. A surety bond is a legally binding contract between three parties: the principal, the surety...
by admin | Oct 10, 2023 | Surety Bonds
Due to the significant level of risk inherent in the construction industry, many project owners ensure that they only work with contractors and subcontractors who are both licenced and bonded. This is an effective way to transfer risk and protect project owners from...