Who Pays for a Performance Bond? When you’re diving into a construction contract or taking on a new project, there are a lot of moving parts—permits, deadlines, materials, and yes, bonds. One of the most common questions we hear from both new and experienced contractors is: Who pays for a performance bond? If you’re not […]
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Contractor Surety Bond: A Complete Guide for Contractors What Is a Contractor Surety Bond? A contractor surety bond is a financial guarantee that a contractor will meet contractual obligations. Many municipalities and licensing boards require this bond, which provides security to project owners, subcontractors, and suppliers if the contractor fails to complete a job or […]
BMC-84 Freight Broker Bond: Everything You Need to Know If you’re a freight broker or looking to become one, you’ve likely come across the BMC-84 Freight Broker Bond requirement. This surety bond is an essential step in obtaining your freight broker license and maintaining compliance with FMCSA regulations. But what exactly is a BMC-84 bond, […]
What Is a Maintenance Bond? A maintenance bond is a type of surety bond that serves as a financial guarantee, ensuring that contractors uphold their obligations to address any defects in workmanship, materials, or design that may emerge after the completion of a construction project. This bond provides project owners with assurance that any issues […]
Understanding Mortgage Lender Bonds: How They Work and Why You Need One Mortgage lending is a critical component of the housing market, providing individuals and families the financial means to achieve homeownership. However, this industry requires strict compliance with state and federal regulations to protect consumers. For this reason, many states mandate that mortgage lenders […]
What is a Janitorial Surety Bond? A janitorial surety bond is a type of contract between three parties: the business (you), the client (your customer), and the surety company that issues the bond. The purpose of the bond is to protect your clients in case your employees cause damage, commit theft, or engage in dishonest […]
Auto dealer bonds are essential safeguards within the automotive industry, designed to protect consumers and ensure dealerships operate ethically and within legal boundaries. Here’s a brief guide to understanding auto dealer bonds: What are Auto Dealer Bonds? Auto dealer bonds, also known as motor vehicle dealer bonds, are a type of surety bond. They create […]
At Bonding Solutions, we understand the pivotal role a bonding company plays in supporting various industries through the provision of surety bonds. As a leading surety bonding company, we are dedicated to addressing the unique needs of our clients by offering tailored bond programs that provide a competitive edge. Our commitment to integrity, innovation, quality, […]
Introduction to DMEPOS Surety Bonds DMEPOS surety bonds are a fundamental requirement for durable medical equipment suppliers who wish to participate in the Medicare program. These bonds, formally known as Durable Medical Equipment, Prosthetics, Orthotics, and Supplies surety bonds, function as a financial guarantee. They ensure that suppliers comply with the standards and regulations enforced […]