Learn how performance bonds work as a contract guarantee, the roles of the parties involved, and the advantages and potential ...

SACRAMENTO, Calif., July 19, 2023 /PRNewswire/ -- Jet Insurance Company ("Jet") is entering the market for contractor bonds in California, marking the first time in recent history that contractors ...

Learn about sureties and surety bonds, including how they guarantee debts, differentiate from insurance, and provide financial protection in contracts.

In Swinerton Builders, Inc. v. Argonaut Insurance Co., Swinerton Builders, a contractor, sued a surety on bond claims arising from defaults by its subcontractor on a series of work orders. The owner ...

Surety bonds protect interests in contracts, ensuring funds are available if obligations are unmet. They differ from investment bonds, focusing on guaranteeing contract fulfillment rather than earning ...

Knowing what a contract bond is helps contractors, project owners, and stakeholders understand how to secure performance and payment in construction or service agreements. These bonds are common in ...

Retainage is commonly used in construction to withhold funds until project completion. Unfortunately for some contractors, this means their payment for the project may get delayed for years until the ...

Bond renewals beginning March 1, 2026 require contractors to maintain an active surety bond to stay compliant with New Jersey licensing requirements. TN, UNITED ...