Construction contracts for commercial projects, including the ongoing boom in apartment projects, routinely require the general contractor and/or the subcontractors to provide performance bonds.

Surety bonds serve as a safeguard to ensure the fulfillment of contractual obligations and help owners manage the risks that ...

Performance bonds guarantee project completion, reducing investment risk. Investors can seek these bonds to secure against contractor failure. They provide a safety net, improving the reliability of ...

Placing concrete requires specialized skills and equipment. The licensing requirements for concrete contractors vary from state to state. In some states, concrete contractors need a specific license ...

Knowing what a contract bond is helps contractors, project owners, and stakeholders understand how to secure performance and payment in construction or service agreements. These bonds are common in ...

That was in 1983, when the Sewerage & Water Board of New Orleans reduced the performance bond requirements for minority contractors to 50 percent of contract value rather than the standard 100 percent ...

Construction bonds ensure project completion and quality, protecting owners if a contractor fails. Contractors must provide financials and project details to secure bonds. Multiple bond types cover ...