Why Contractor Bonds Have Become Important In Las Vegas Construction B

Information about Why Contractor Bonds Have Become Important In Las Vegas Construction B

Published on July 10, 2014

Author: colin_coy

Source: authorstream.com

Content

Why Contractor Bonds Have Become Important In Las Vegas Construction Business: Why Contractor Bonds Have Become Important In Las Vegas Construction Business Contractor bonds are widely used by construction companies in Las Vegas: Contractor bonds are widely used by construction companies in Las Vegas Surety bonds or contractor bonds are one of such methods that helps protect businesses in Las Vegas from possible losses. The insurance company that makes the bond becomes the surety. If the principal fails to meet the obligations, then the oblige can claim the surety amount from the insurance company. There are many types of contractor bonds that are used in the industry-: There are many types of contractor bonds that are used in the industry- Bid Bonds : Such bonds are used to guarantee that a contractor will enter into a contractual agreement if he is awarded the bid by the oblige. Performance Bonds Used to guarantee that the contractor will work on the project exactly as per the terms of agreement with the oblige.: Performance Bonds Used to guarantee that the contractor will work on the project exactly as per the terms of agreement with the oblige. Payment Bonds These are for guaranteeing that the contractor will have to pay for the entire subcontract work and for the materials that will be utilized. Maintenance Bonds These types of bonds are used when a contractor has to undertake the responsibility of maintenance and repair for a specified duration of time . Contractors looking to get contractor bonds in Las Vegas can contact insurance companies which provide these services.: Contractors looking to get contractor bonds in Las Vegas can contact insurance companies which provide these services. Contact Us : Contact Us American Contractors Institute, Inc. 133 E Warm Springs Rd, Ste. 101 Las Vegas, NV 89119 702-360-2000 Website- http://www.americancontractorsinstitute.com/ THANK YOU............: THANK YOU............

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