« previous next »

Author Question: What does a surety check out before providing a bond to a contractor? What will be an ideal ... (Read 73 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?

One way to reduce acid reflux is to lose two or three pounds. Most people lose weight in the belly area first when they increase exercise, meaning that heartburn can be reduced quickly by this method.

Did you know?

The most common treatment options for addiction include psychotherapy, support groups, and individual counseling.

Did you know?

In 1835 it was discovered that a disease of silkworms known as muscardine could be transferred from one silkworm to another, and was caused by a fungus.

Did you know?

The term bacteria was devised in the 19th century by German biologist Ferdinand Cohn. He based it on the Greek word "bakterion" meaning a small rod or staff. Cohn is considered to be the father of modern bacteriology.

Did you know?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

To check pupillary reflexes the nurse first holds the penlight To check pupillary reflexes the nurse first holds the penlight
To check to see if the electric fuel pump can be operated from the relay contacts, use a fused ... To check to see if the electric fuel pump can be operated from the relay contacts, use a fused ...
This Toyota cap has a warning—the check engine light will come on if not tightened until one ... This Toyota cap has a warning—the check engine light will come on if not tightened until one ...
Prepare upper back for hot application. Undrape upper back. Check tissues visually and through ... Prepare upper back for hot application. Undrape upper back. Check tissues visually and through ...
Remove cold source, and check the knee for changes. Notice skin color and changes in swelling around ... Remove cold source, and check the knee for changes. Notice skin color and changes in swelling around ...
Medical Hot Zone Entry Exclusion Criteria During Pre-Entry Check Medical Hot Zone Entry Exclusion Criteria During Pre-Entry Check
Video: Introduction to Cystic Fibrosis

For a complete list of videos, visit our video library