This is usually used by construction contractors who are bidding on a project. If they are awarded the contract, they must post a bid bond to ensure that they will start the work immediately.
This is generally used by contractors who are performing work on a contract or project for which their compensation is not paid until completion of all work.
This is also known as License Payment Bond. This surety bond ensures that the contractor has the necessary license or certification for work that he or she may perform.
This surety bond ensures that labor or materials will be available at designated times during the construction period.
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