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Contract Bonds
The Wilstead Agency has over 30 years expertise in contract bonding. We built our agency on this type of business. Contract bonds ensure that a contractor will complete their work in accordance to the contract that has been agreed upon. If in fact, the contractor does not complete these obligations in the manner that they have agreed upon then the liability of these infractions come upon the bonding company and they must compensate the owner.
Another name for the Contract Bond is the Construction Bond. The term Construction Bond encompasses all aspects of bonds used in a construction project from beginning to end.
Bid Bonds A bid bond provides a guarantee that a Performance and Payment Bond will be issued to the contractor if he is awarded the job and that the bid price will be honored.
Maintenance Bonds will guarantee that the completed project will be without defects for a specific amount of time following completion of the project.
Payment Bonds provide security that suppliers, subcontractors and workers will be paid in the event that the contractor fails to do so.
Performance Bonds guarantee that the contractor will complete the project. No financial loss will be accrued by the project owner if the contractor fails to complete the project to the specifications of the owner.
Site Improvement Bonds are required by local authorities to ensure the landowner completes the mandatory improvements to their already developed land.
Subdivision Bonds require that new construction sites will have the mandatory improvements completed to their property.
Supply Bonds A guarantee that the supply materials to be used by the contractor are in accordance with the contract in force.
The Wilstead Agency will consult with you and determine your exact needs. This process will provide you with the security you are looking for in a Contract Bond. Whether you need a contract bond in Arizona, California, or New Jersey, we can help you.
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