Why do Contract Surety Bonds Matter in Construction?
Construction is an expensive and risky business where there is the danger of contractors not being able to undertake the projects at the amounts they bid. There’s a second area of concern too, as payment…
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Surety Industry to Nearly Double in Next Decade Due to Contract Surety
The global surety market is expected to grow to over $28 billion by the year 2027, up from $15.33 billion in 2018. The growth of nearly 100% is expected due to the imminent replacement of…
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Federal Contracts Without Bonding Requirements May Still Require Bonds
Federal construction contracts over $150,000 requiring payment and performance bonds should not be a surprise to federal construction contractors. But what happens when a federal contract over $150,000 is ambiguous as to whether it’s specifically…
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