surety bond guarantee

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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surety bond vs letter of credit

Surety Bond vs Letter of Credit

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Surety Bond vs LOC: Which is the BETTER option for contractors? To manage risks in construction projects, surety bonds, and letters of credit (LOC) are used to ensure financial compensation in case of default or failure to fulfill contractual obligations. However, surety bonds have more advantages over LOCs when it comes to the parties involved, …

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