Lower Construction Subcontractor Surety Bond Costs with These 5 Tips
You might flinch at the prospect of getting a construction subcontractor surety bond simply because people will scrutinize your business. The payoff though is a boost to your company’s reputation that tells clients and potential clients that you can deliver what you promise.
By Eric Weisbrot
A construction subcontractor surety bond will open doors for any subcontractor. They provide a guarantee to the job owner that work will be done to standards and regulations. If the project doesn’t meet the terms of the contract, a surety bond pays the claim on behalf of the construction contractor. However, the contractor is the one ultimately on the hook for paying the claim. There are several reasons why a construction subcontractor surety bond is a big expense. Fortunately, following the steps below ensures a cost-effective bond every time.
Chief Marketing Officer of JW Surety Bonds
With years of experience in the surety industry under several different roles within the company, he is also a contributing author to the JW Surety Bonds blog.