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To avoid confusion we will discuss some of the major points of the claim process in auto dealer surety bonds. Surety bonds are not the same as an insurance policy. A surety bond protects the consumer not the business. The surety bond is an agreement that outlines an obligation of one of the parties, in…
Read more September 24, 2015Nearly all public construction work that is completed is done so through private sector construction firms. Jobs are bid on by private sector contractors. An open competitive sealed bid system is used to determine who is awarded the work. Many times the work is given to the contractor with the lowest, most comprehensive bid. With…
Read more September 21, 2015Bonding is a concept many of us are unfamiliar with. In this article, we will focus on how bonding affects financing. It is important to understand that bonding is not a type of insurance. The purpose of bonding is to guarantee projects are completed on time or as near to schedule as possible regardless of…
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