How Performance Bonds Work in Construction

July 1, 2019
Todd Bryant - Construction Executive

Contractors who are awarded a contract are frequently required to obtain several surety bonds before they can begin the project. One of these bonds is the performance surety bond.

A performance bond basically guarantees a contractor's performance under a contract. Yet, there are a number of important details that contractors need to know about performance bonds when they are required to obtain one.

Reprinted courtesy of Todd Bryant, Construction Executive, a publication of Associated Builders and Contractors. All rights reserved.



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