Performance Bonds
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Rescooped by Bernice Vanderbilt from Payment Bonds
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United Surety Bonds - Bid & Performance Bonds

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United Surety Bonds


Via Teofila Cagle
Bernice Vanderbilt's insight:

Parties who was given the favor will absolutely reap the benefits of any of these bonds. Once a developer is provided a bond, a contractor will get profits from the bond and the developer will assume responsibilty based on his obligation if complications take place throughout the project. If the contractor is the one given with the bond, he will then be held accountable.

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Annamaria Rael's curator insight, June 21, 2014 7:03 AM

Meanwhile, performance bonds are utilized for securing an agreement with a contractor so as to ensure that they commit on a certain project. To be more certain, firms secure these performance bonds as surety bonds to a service provider as a guarantee that the worker will work with the specific project to the end as given in the conditions.

Teofila Cagle's curator insight, June 21, 2014 7:13 AM

These surety bonds for securing the financial status of each party can be issued by either the contractor, who'll do the project, or the firm that'll be getting the contractor’s services. But issuing these bonds will need the help of a banking institution before issuance. 

Christen Lampkin's curator insight, June 21, 2014 7:16 AM

Surety bonds play a huge role in securing the finances of certain group, and the ones who can be issue this are the company or the contractor. But issuing these bonds will need the assistance of a banking institution just before issuance.

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United Surety Bonds - Bid & Performance Bonds

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United Surety Bonds

Via Christen Lampkin
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Christen Lampkin's curator insight, June 21, 2014 7:16 AM

To really make it more clear, performance bonds are surety bonds that a financial institution issues to make sure that the contractor will eventually complete the designated task according to the agreed conditions. Thus, if the project was not finished, the other party is need to pay a specific amount. 

Christen Lampkin's curator insight, June 21, 2014 7:16 AM

By some means; these aforementioned bonds are one of the most frequently used bonds for construction. As what have been noted, these surety bonds are used primarily to safeguard projects for constructing real-estate properties.

Christen Lampkin's curator insight, June 21, 2014 7:17 AM

By using these performance bonds and bid bonds, it is sure that there will never be any foul-play in either of the two parties. Rates will be between 10-15% for the bond described in the contract. Generally, the risk level of these parties is the basis on the rates provided.

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United Surety Bonds - Bid & Performance Bonds

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United Surety Bonds

Via Christen Lampkin, Jerry Rix, Annamaria Rael
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Christen Lampkin's curator insight, June 21, 2014 7:16 AM

To really make it more clear, performance bonds are surety bonds that a financial institution issues to make sure that the contractor will eventually complete the designated task according to the agreed conditions. Thus, if the project was not finished, the other party is need to pay a specific amount. 

Christen Lampkin's curator insight, June 21, 2014 7:16 AM

By some means; these aforementioned bonds are one of the most frequently used bonds for construction. As what have been noted, these surety bonds are used primarily to safeguard projects for constructing real-estate properties.

Christen Lampkin's curator insight, June 21, 2014 7:17 AM

By using these performance bonds and bid bonds, it is sure that there will never be any foul-play in either of the two parties. Rates will be between 10-15% for the bond described in the contract. Generally, the risk level of these parties is the basis on the rates provided.

Rescooped by Bernice Vanderbilt from Surety Bonds
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United Surety Bonds - Bid & Performance Bonds

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United Surety Bonds

Via Corazon Journey
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Annamaria Rael's curator insight, June 21, 2014 7:05 AM

Parties who was given the favor will absolutely benefit from any of these bonds. When a developer is offered a bond, a contractor will obtain profits from the bond and the developer will take responsibility based upon his obligation if problems occur throughout the project. If the contractor is the one given with the bond, he will then be held accountable. 

Trena Sandoval's curator insight, June 21, 2014 7:11 AM

These performance bonds and bid bonds help make certain that there will be no party above the other. Rates for such bonds vary from 10% to 15% of the amount stated on the contract. Usually, the rates are based on the both parties risk level.

Christen Lampkin's curator insight, June 21, 2014 7:15 AM

A bond is a written legal deal which forces one party to settle every six months, and pay for the entire debt once it reaches its maturity date. Bonds have differing types and classifications. These bonds include 2 kinds; the surety bonds and bid bonds. 

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United Surety Bonds - Bid & Performance Bonds

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United Surety Bonds

Via Trena Sandoval
Bernice Vanderbilt's insight:

Surety bonds play a big role in securing the finances of certain group, and the ones who can be issue this are the company or the contractor. But issuing these bonds will need the aid of a banking institution before issuance. 

more...
Trena Sandoval's curator insight, June 21, 2014 6:34 AM

One good example is the necessity of an organization for a contractor for their project later on. Before the firm employs one specific contractor, bidding will be taken first. Once a winning bid is made the parties will then make a deal about the required financings. To give more security, a winning bidder may then request bid bonds.

Corazon Journey's curator insight, June 21, 2014 6:58 AM

For example, a certain firm needs a contractor for their upcoming project. But before a contractor will be accepted by a company, a bidding event would happen first. The necessary financing will be discussed soon after the project has been awarded to the winning bidder..

Jerry Rix's curator insight, June 21, 2014 7:02 AM

These surety bonds for safeguarding the financial status of every party can be issued by either the contractor, who'll perform the project, or the company that will be getting the contractor’s services. But issuing these bonds will require the help of a banking institution prior to issuance.

Rescooped by Bernice Vanderbilt from Performance Bonds
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United Surety Bonds - Bid & Performance Bonds

United Surety Bonds - Bid & Performance Bonds | Performance Bonds | Scoop.it
United Surety Bonds
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Corazon Journey's curator insight, June 21, 2014 6:58 AM

Surety bonds helps protect a group’s financial situation, and it can only be given by either the contractor or the company itself. However, they can't issue the bonds on their own because they need a particular financial institution to issue it for them.

Jerry Rix's curator insight, June 21, 2014 7:01 AM

One good example is the need of an organization for a contractor for their project later on. Before the company hires one specific contractor, bidding will be taken first. Once a winning bid is made the parties will then negotiate about the required financings.

Annamaria Rael's curator insight, June 21, 2014 7:04 AM

One good example is the need of a firm for a contractor for their project later on. But before a contractor will be accepted by a organization, a bidding event would occur first. After a winning bidder has been known, the groups will then go over about the required funds.

Rescooped by Bernice Vanderbilt from Surety Bonds
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United Surety Bonds - Bid & Performance Bonds

United Surety Bonds - Bid & Performance Bonds | Performance Bonds | Scoop.it

United Surety Bonds


Via Christen Lampkin, Jerry Rix
Bernice Vanderbilt's insight:

Bonds issued for ensuring that a contractor will finish a particular project are the performance bonds. To make it more clear, performance bonds are surety bonds that a financial institution issues to make sure that the contractor will eventually complete the given task based on the agreed conditions. So, if ever problems will happen throughout the completion of a project, payment will be imposed to the party who was offered the favor. 

more...
Christen Lampkin's curator insight, June 21, 2014 7:16 AM

To really make it more clear, performance bonds are surety bonds that a financial institution issues to make sure that the contractor will eventually complete the designated task according to the agreed conditions. Thus, if the project was not finished, the other party is need to pay a specific amount. 

Christen Lampkin's curator insight, June 21, 2014 7:16 AM

By some means; these aforementioned bonds are one of the most frequently used bonds for construction. As what have been noted, these surety bonds are used primarily to safeguard projects for constructing real-estate properties.

Christen Lampkin's curator insight, June 21, 2014 7:17 AM

By using these performance bonds and bid bonds, it is sure that there will never be any foul-play in either of the two parties. Rates will be between 10-15% for the bond described in the contract. Generally, the risk level of these parties is the basis on the rates provided.

Scooped by Bernice Vanderbilt
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United Surety Bonds - Bid & Performance Bonds

United Surety Bonds - Bid & Performance Bonds | Performance Bonds | Scoop.it
United Surety Bonds
Bernice Vanderbilt's insight:

One good example is the necessity of an organization for a contractor for their project later on. Before the firm employs one specific contractor, bidding will be taken first. Once a winning bid is made the parties will then make a deal about the required financings. To give more security, a winning bidder may then request bid bonds.

more...
Corazon Journey's curator insight, June 21, 2014 6:58 AM

Surety bonds helps protect a group’s financial situation, and it can only be given by either the contractor or the company itself. However, they can't issue the bonds on their own because they need a particular financial institution to issue it for them.

Jerry Rix's curator insight, June 21, 2014 7:01 AM

One good example is the need of an organization for a contractor for their project later on. Before the company hires one specific contractor, bidding will be taken first. Once a winning bid is made the parties will then negotiate about the required financings.

Annamaria Rael's curator insight, June 21, 2014 7:04 AM

One good example is the need of a firm for a contractor for their project later on. But before a contractor will be accepted by a organization, a bidding event would occur first. After a winning bidder has been known, the groups will then go over about the required funds.