Contractor bonds

construction bonds

4 Types of Problems Small-Scale Contractors Face – Which One Are You Currently Having?

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The construction industry is expected to experience healthy economic times. Construction spending, for one, continuously grows according to the Department of Commerce. In fact, construction spending grew to $1.257 trillion late last year. Not only that, the Bureau of Labor Statistics confirms that the construction industry is generating substantial employment by opening 30,000 new jobs. That’s great news for many contractors. Small-scale contractors, …

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surety bond update

SURETY BOND UPDATE: Bigger Opportunities for Small Contractors in New Jersey Thanks to the Amended SBA Surety Bond Program

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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 …

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construction surety bonds for small business

Construction Surety Bonds: Creating Opportunity for Small and Medium Size Contractors

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In construction, especially for most government development projects, surety bonds will be required for companies even for preliminary bids. Federal or state projects require contractors to acquire construction surety bonds for the development or repair of any structure or public work. In our latest blog, we have rounded up industry-related news and expert tips from …

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Construction bonds

Construction Claims Prevention: How To Protect Yourself From The Start

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A construction development project can be a high-risk endeavor and requires a carefully developed plan of action to ensure the terms promised will be executed correctly and fairly for all parties involved. When starting a construction development project, the earlier construction claims prevention methods are discussed, the easier it will be to mitigate the situation …

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Performance Bonds for Exporters

Performance Bonds for Exporters: How Surety Bonds Protect Purchasers

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Surety bonds cover an extremely wide range of needs and purposes, especially when it comes to the global exporting industry is no different. Each year, millions of dollars in product and services are shipped internationally. In order to protect their investments, buyers will often require exporters to acquire a performance bond before finalizing any trade …

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Construction Surety Bonds

Construction Surety Bonds: How They Benefit The Environment

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Construction surety bonds serve a multitude of purposes, from reinforcing building standards to ensuring payments are made in full in regards to a specified contract. While it is true there are a variety of reasons for specific surety bonds, it is not widely known that some surety bonds are actually put in place to benefit …

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