In construction finance, a balance sheet is a financial document that a business creates. It lists all of the business’s assets, liabilities, and owners’ equity to give a snapshot of... The Contractor’s Guide to Increasing Bonding Capacity Contractors who want to work on bonded construction...
The first time through applying for a bonded project will give a contractor a solid idea on the size of projects their surety is comfortable extending bonding for based on their experience and financial status. As a whole, this number is often referred to as a “bond line” and is very us...
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...
What Is Bonding Capacity? Bonding capacity is the maximum dollar amount a contractor is approved to be bonded for by a given surety. Similar to a line of credit, this number generally indicates the largest job a contractor can bid on when contract bonding is required. A contractors bonding ca...
Bryant Surety Bonds, Inc. is a surety bond agency based in Pennsylvania. Licensed in all 50 states and with access to over 20 T-listed, A-Rated bonding companies, we have the contacts, expertise, and top service to provide you with a hassle-free experience, all while offering competitive ...
Most warranty bonded services are somewhat more pricey than non-bonded work, particularly because the workmanship is guaranteed. Some contractors may opt to go with unb-onded sub-contractors, especially in large construction projects, but run the risk of the sub-contractor under performing or disapp...
Need a Contractor License Bond? Viking can get you from bond application to bond in hand quick and easy. We work with both good and bad credit clients. Get started here. Need a Bond? Here's how to get one. Learn about the bonding process. Viking will guide you step by step from app...
construction projects.Federal law requires a performance surety for public works contracts over $100,000,and most states have similar laws. In such cases, the construction contractor is the principal, the bonding company providing protection is the surety, and the owner of the project is the ...
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. ...
The amount claimed against a bid bond typically covers the difference between the lowest bid and the next lowest bid. This difference will be paid by the bonding company or surety, which may sue the contractor to recover the costs. Whether the surety can sue the contractor depends on the ter...