Archive for April, 2017
If you have ever needed to purchase a surety bond for a construction project, you have likely been to a company that sells them in your city. There are probably more than one business that offers this type of service, and you sometimes need them in order to bid on certain projects. A surety bond is simply a guarantee that the principal, which would be the contractor, will meet their obligation to complete a project that they have successfully won
after bidding. If the principal, the contractor, does not meet this obligation, then those that issued the surety bond, the guarantor, will pay the people that hired them, a business that would be referred to as the obligee. Here is how you can find a business that will provide you with excellent rates on a surety bond that you need to have for bidding on a job.
How Do You Find These Companies?
You can find these companies very quickly searching through your local Yellow Pages. There will likely be a couple of companies that are used by many contractors in the area. You can also search on the Internet as many of these businesses have these surety bonds for sale, and you can get them at a reasonable cost. You will want to compare the prices that each of these companies offers them out. You could end up saving quite a bit of money. It’s only by this price comparison-shopping that you will be able to save money throughout the year as you are having to buy surety bonds for each project that you bid on in your community.
How To Know If It Is A Legitimate Company
Although you could check websites like the BBB just to verify that the company is legitimate, you can also look at the testimonials that people may have left online. Some of these companies can be found in the local listings of Google, and on websites that rate different businesses in cities across the nation. If people have been saying good things about these companies, then you are probably going to be fine when you use them for the projects that you need them for. Once you have found or three of them, you can then make the comparison to make sure that you are getting the best price.
How Long Does It Take To Have Them Issued?
You can find these companies very quickly for places like floridagreenbuildinglaw.com, and pay them the money, and they will likely issue the bond within the hour. It is something that is very easy to do, but you do have to qualify for the surety bonds. They are going to check a couple of different things. There are going to look at your credit rating is a business to see if there are any problems. They will also request information on past projects that you have bid on in order to make sure that you are fulfilling your obligation to complete the projects that you have bid on and won. This is something that is typically done only if the person that is trying to get the surety bond does not have the best credit associated with their business.
Your search for these companies can last about 30 minutes or less. It doesn’t take that long at all. You will then be able to contact them over the phone, or drive down to the location where they have this service available. In no time at all, you will become a regular customer with these businesses that will help you with every job that you need them for. They are one of those necessary components of bidding on jobs in the construction industry and you will be able to find the best company using these strategies.