What Are The Benefits And Drawbacks Of A Performance Bond

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Performance bonds provide a significant advantage to contractors by offering financial security, building trust with project owners, enhancing Benefits and Drawbacks of Surety Bonds · Bonded parties must pay for bonds and any valid claims · Lapse in bond coverage can invalidate a license

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What are the benefits of a performance bond? · Gives the Owner More Than Cash to Fix the Problem Created by a Default · Responds from the First Dollar · Provide Jackson explains that surety bonds involve a three-party obligation: the principal (customer), the surety company (provides

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There are many potential advantages to the contractor: (1) lower premium costs; (2) control over the prequalification of subcontractors; (3) no