A bond is the promise of one party (obligee) to pay the debt of another party (the principal) in case the principal fails to meet some requirement such as fulfilling a contractual obligation. A contract bond guarantees that a contract will be completed according to terms and conditions of the contract and the contractor will pay subcontractors, laborers, suppliers, etc. related to the project.
The ability to obtain bid, performance and payment bonds is critical to the business model of many contractors. We have the expertise to work with contractors from start-up companies to contractors with a billion dollars in revenues. We love working with contractors to give them confidence in their ability to bond projects and support their business plans.