Surety bonds are a type of insurance that protects project owners from financial losses if a contractor fails to complete a project. They are a common requirement for government contracts and many private projects as well.
In this article, Surety Information Office (SIO) shares 10 things you should know about surety bonds. From understanding the different types of surety bonds to finding a surety company that is a good fit for your business, this article provides valuable information for anyone who needs to know more about surety bonds.
If you are a contractor who is looking to bid on government contracts or private projects that require surety bonds, then this article is a must-read. It provides you with the information you need to understand surety bonds and increase your chances of success.