Press enter to begin your search

A Performance Bond’s Fixed and Flexible Scope.

The scope of a performance bond's protection is limited, but can be expanded. To ensure that the surety will be responsible for all applicable work, it is important to keep the bond's scope in mind throughout the course of the project, and expand it as necessary, to make sure the bargained-for protection is available, in the event you need it....

The “Infallible” Surety, Is Not Immune From The Impact Of A Bad Economy

When negotiating for payment and performance bonds, you should realize that even if you obtain the added protection, you are not 100% safe. Even though they might not be as likely as other construction entities to go out of business, sureties also go out of business. Furthermore, when they do, it can be as difficult to recover from a surety's estate as it is to recover from any other bankrupt construction entity....