Whether you’ve grown multiple businesses or are starting to build your first one, odds are your inbox has been flooded with a number of business contracts. Small business owners depend on these contracts for the success of their company. With that said, business contracts are legally binding and …Read more
Category: Contract Bonds
Dedicated to the latest contract bond news, we keep you up to date on new legislation and contract bond requirements. Additionally, our surety experts offer tips for getting contract bonds, running a bonded business, finding the best surety bond company, and more.
Payment and performance bonds are obtained by contractors for construction jobs to protect different groups from unmet contractual promises. Public construction projects typically require these bonds, but private projects can also require them. Since the bonds are typically issued together, many …Read more
Bidding on construction jobs is no easy task. Contractors need to understand the necessary costs, the state of the market and the ideal price point for jobs. On top of that, contractors also need to keep an eye on their competitors’ prices and sometimes need to bid on many projects at one time to …Read more
When you are developing your business in the construction field in Texas, you quickly learn that you have to play by many rules. If you are a newbie, it is likely that the amount of licenses, permits, regulations and administrative steps might discourage you. With time, however, it does get easier …Read more
Express Scripts now requires some applicants who wish to contract with their company to obtain a $500,000 performance bond for a minimum of the first two years of the contract.Read more
Scope creep is when a project’s scope grows past what was originally planned. This can include an increase in costs, time spent, and additional features that weren’t part of the initial agreement. Scope creep mainly peaks its head if changes go untracked and it can eat away at your budget. …Read more