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CONTRACT BOND  Form

CONTRACT BOND Form

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what is a contractor Bond licensed contractors including Electrical Plumbing and other types of specialty contractors can get contractor bonds to protect and inform their work across different projects Surety bonds are different from general liability insurance which primarily protects the contractor contractor bondu a contractor bond is generally a project by project agreement between the contractor called the principal the business or individual who is high of the contractor called the obligee and a guarantor who issues the bond who should get a contractor Bond any aspiring or active contractor should review state and local laws to determine if a license or surety bond is required before bidding on a project additionally many clients especially Federal and some state or local government entities may require all contractors to be bonded before they will accept bids on a project it is important for any construction company or general contractor to review applicable laws and understand

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