The Skeen Insurance Agency works with businesses for all their bonding needs. A bond protects the guarantor against losses resulting from the principal’s failure to meet the obligation. These bonds assure owners that their projects will be completed promptly and properly.
Bid Bonds
A Bid Bond, also known as a Proposal Bond, is necessary when construction contracts are put up for bids. The successful bidder is required to furnish the required Performance or Payment Bonds in order to begin construction.
Performance Bonds
A Performance Bond is generally required in these circumstances:
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