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Everything You Need to Know About Public Sector Construction Bonds

Entering the public construction field may entail a bit of “culture shock” for those who have previously done only private contracting work or who are new to construction contracting altogether. Work of any nature done in the public sector is subject to tight regulation—due to safety concerns and the fact that such work is funded […]

What to Look for in the Best Construction Bonding Companies

Choosing a construction bonding company is a big decision. If you’ve been in the construction business for a while, you may have used one or more surety companies in the past and are now looking to find one that can meet all of your bonding needs on an ongoing basis. Or perhaps you’ve never needed […]

Do You Need a Site Improvement Bond?

A site improvement bond is a way to ensure that improvements being made to an existing public property will be done as agreed upon in the project contract and in accordance with local building codes. Typical improvements made under a site improvement contract include sidewalks, curbs and gutters, utilities, landscaping, grading, streetlights, storm drains or […]

How to Become a General Contractor

Although “general contractor” is a term commonly used by the public nationwide, the official term used in the laws and regulations of some states is something else—for example, major contractor, prime contractor, or main contractor. “General,” “major,” and “prime” all indicate that the contractor in question is the manager of a construction project, from project […]

Understanding the SBA Surety Bond Program

The Small Business Administration established its bond program to enable small contracting businesses to get the bonds they need in order to compete for and work on public works construction projects. The program guarantees a large percentage of the surety bond amount for bid bonds, payment bonds, performance bonds, and ancillary bonds purchased by small […]

Performance Bonds vs. Bank Guarantees

There is often confusion between bonds and bank guarantees. We hope to help clear that confusion in this post. Here’s what you need to know about performance bonds vs bank guarantees.

What Is a Contractor’s License Bond?

A contractor’s license bond is a surety bond categorized as a license and permit bond. These bonds are required as a condition of obtaining a contractor’s license to operate in a given state or municipality. The purpose of the bond is to ensure that construction contractors operate in a lawful and ethical manner, which protects […]

Supply Bonds vs. Performance Bonds—What’s the Difference?

Both supply bonds and performance bonds fall into the category of construction bonds and are both considered to be types of contract bonds. But there are some significant differences between supply bonds and performance bonds, primarily in the purposes they serve. Learn more below, and contact Contractor Surety Group today to get the bonds you […]

How to Price a Construction Project

Discovering midway through a project that it was priced too low is every contractor’s nightmare. Overlook a couple of line items, and there goes your profit margin. While this is a concern for all contractors, it’s a particular hazard for newer contractors who are still learning the ins and outs of pricing a construction project.

Bid Bonds For Residential Construction Jobs

Many people, including some in the construction industry, mistakenly believe that the contracting process for residential projects is nowhere near as rigorous as the process for bidding on and executing public works projects. It’s easy to see why you might think that, especially if your experience has been primarily in government contracting or residential remodeling […]