What does it mean to say a contractor is bonded? When a contractor states they are bonded, it means theyeither have a surety bond, fidelity bond or both. Most state or local governments require contractor license surety bonds for contractors to obtain their license, so let's start with them...
The company could be a contractor, a health spa, title company, notary public, etc. For example, an Importer Entry Bonds is required on all commercial shipment of goods entering the commerce of the United States. An Importer Entry Bond is a customs bond posted by an importer to guarantee ...
fact. Since there were no bond penalties in place to prevent this, obligee’s were essentially held at ransom. They could pay the increased financial demand or fire the contractor and rebid the project, only to have the same problem repeat with the new company. Performance bonds solve this ...
Suppose a hypothetical developer is looking for a contractor to construct a new apartment building. Because of the size of the project, they will require their contractor to be bonded. This provides the developer with protection if the contractor fails to meet the requirements of their contract. ...
If you're just getting started as a contractor or the owner of another type of service-based business, you may be trying to figure out whether you need to be bonded. Because bonding goes hand in hand with licensing and insurance, let's quickly go over the meanings of all three of those...
O'Neill Home Repair Service is a sole proprietorship run by Jamey O'Neill a fully licensed, bonded and insured general contractor in Montgomery County, Maryland.
There are many different levels of service available when removing a tree, but a few basic pieces are usually included. Obviously, the tree will be need to be chopped down. Typically, the contractor will also have to rope down pieces of the tree by climbing the tree and cutting it into ...
your contractor will charge to demolish and remove your driveway in chunks. they'll use heavy equipment, like a bobcat and jackhammers. you may need to pay dumpster and haul-away fees. driveway removal costs between $0.50 and $1.50 per square foot. alternatively, it may be possible to ...