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When a construction company needs to secure a bond, the most critical first step is partnering with a reputable surety bond broker. An experienced broker serves as your advocate throughout the bonding process, helping position your company in the strongest possible light and guiding you toward the most favorable bond terms and conditions available. A…
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Surety bonds are a routine requirement across the construction industry, but securing the right bond doesn’t have to strain your budget. Understanding how bond costs are calculated—and what influences your rate—helps you make informed decisions as you prepare for upcoming projects. What Surety Bonds Typically Cost Surety bond premiums are charged as a percentage of…
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Surety bonds play a critical role in keeping construction projects on track—especially when public funding is involved. Federal, state, and local regulations often require contractors to secure specific bonds before work can begin, making it essential to understand what’s needed for each project. Public Project Bonding Requirements The federal Miller Act mandates that general contractors…
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Surety bonds are essential in the construction industry for managing risk among multiple parties and large financial commitments. They ensure that owners, contractors, subcontractors, and suppliers can trust one another to fulfill obligations and receive agreed-upon payments or services. Surety bonds protect all parties involved in a project, helping ensure that work is completed as…
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In the construction industry, risk is part of every project. From fires and theft to contractors failing to deliver on their commitments, unexpected challenges can threaten budgets, timelines, and relationships. To manage these risks, project owners and contractors often turn to two tools: insurance and surety bonds. While they may sound similar, they serve very…
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Tariffs are government-imposed taxes on imported goods, often designed to protect domestic industries or generate revenue. These fees, which may be charged as a percentage of value or a flat rate per unit, are paid by the importer at the point of entry into the U.S. For the construction industry, this means materials like steel,…
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