« previous next »

Author Question: What does a surety check out before providing a bond to a contractor? What will be an ideal ... (Read 61 times)

londonang

  • Hero Member
  • *****
  • Posts: 540
on: Jul 26, 2018
What does a surety check out before providing a bond to a contractor?
 
  What will be an ideal response?

Question 2

What are the advantages of requiring bonds on construction projects?
 
  What will be an ideal response?


Christopher

  • Sr. Member
  • ****
  • Posts: 316
Reply #1 on: Jul 26, 2018
Answer to Question 1

Before issuing bonds sureties thoroughly review construction firms and their character, capital, and capacity. Sureties also review the plans and specifications for potential projects and other accomplishments of construction firms.

Answer to Question 2

The advantages of requiring bonds on construction projects is to protect owners against nonperformance, nonpayment of subcontractors and suppliers, and to guarantee that the contractor awarded a contract will perform the work or the owner will be compensated for the difference between the lowest bid and the second lowest bid.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

londonang

  • Hero Member
  • *****
  • Posts: 540
Reply #2 on: Jul 26, 2018
TY


Christopher

  • Sr. Member
  • ****
  • Posts: 316
Reply #3 on: Jul 26, 2018
You're welcome


« previous next »
 

Did you know?

Approximately 25% of all reported medication errors result from some kind of name confusion.

Did you know?

About 80% of major fungal systemic infections are due to Candida albicans. Another form, Candida peritonitis, occurs most often in postoperative patients. A rare disease, Candida meningitis, may follow leukemia, kidney transplant, other immunosuppressed factors, or when suffering from Candida septicemia.

Did you know?

More than 20 million Americans cite use of marijuana within the past 30 days, according to the National Survey on Drug Use and Health (NSDUH). More than 8 million admit to using it almost every day.

Did you know?

Many of the drugs used by neuroscientists are derived from toxic plants and venomous animals (such as snakes, spiders, snails, and puffer fish).

Did you know?

More than 150,000 Americans killed by cardiovascular disease are younger than the age of 65 years.

Check Shadow (Proof) Check Shadow (Proof)
Mitosis + Check Points 3 of 5 Mitosis + Check Points 3 of 5
Formation of a peptide bond by a condensation reaction. Formation of a peptide bond by a condensation reaction.
Correctly completed check stub. Correctly completed check stub.
A tester that uses a blue liquid to check for exhaust gases in the exhaust, which would indicate a ... A tester that uses a blue liquid to check for exhaust gases in the exhaust, which would indicate a ...
The connector must be opened (disconnected) to check and/or adjust the ignition timing. On DIS/EDIS ... The connector must be opened (disconnected) to check and/or adjust the ignition timing. On DIS/EDIS ...
Video: DNA fingerprinting Animation

For a complete list of videos, visit our video library