Description: Read on to learn more about how performance bonds help minimize risk for general contractors and project owners alike.
general contractors (349) requirements (161) costs (138) construction projects (98) performance bonds (26) construction contract (10) performance bonds for general contractors (1) risks associated with construction projects (1) what is a performance bond? (1) how performance bonds work (1)
Performance bonds help to redistribute the risks associated with construction projects for owners and general contractors alike. Construction projects can be complex undertakings that involve a number of tradesmen from different disciplines with interdependent schedules. Often times, a general contractor is responsible for the day-to-day oversight and overall coordination of a project, however, that doesn’t guarantee that everything will remain on schedule. Delays are common during the construction process,
· The bond type;
· Bond amount;