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Surety Bond Update for Small Contractors in NJ with Surety Bond Authority The U.S. Small Business Administration has recently announced the changes made to the Surety Bond Guarantee (SBG) Program which will benefit small contractors in the State of New Jersey. The amended program – which started on the 20th of September 2017 – allows …
Great news for Class A and Class B Contractors in Virginia! They now have the option to post a surety bond instead of providing and maintaining a minimum net worth required when applying for a license. Under Senate Bill 1113, Class A and B contractors can now submit a surety bond for both initial license …
A bid bond also called a tender bond, is a type of surety bond posted by a bidder for a construction project to provide assurance to the project owner that the bidder will make realistic bids and take on the job if chosen. Bid bonds provide project owners with assurance that the bidder has the …
