« previous next »

Author Question: What does a surety check out before providing a bond to a contractor? What will be an ideal ... (Read 89 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?

Most strokes are caused when blood clots move to a blood vessel in the brain and block blood flow to that area. Thrombolytic therapy can be used to dissolve the clot quickly. If given within 3 hours of the first stroke symptoms, this therapy can help limit stroke damage and disability.

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

In most cases, kidneys can recover from almost complete loss of function, such as in acute kidney (renal) failure.

Did you know?

Chronic marijuana use can damage the white blood cells and reduce the immune system's ability to respond to disease by as much as 40%. Without a strong immune system, the body is vulnerable to all kinds of degenerative and infectious diseases.

Did you know?

Not getting enough sleep can greatly weaken the immune system. Lack of sleep makes you more likely to catch a cold, or more difficult to fight off an infection.

Water Polar Bond Water Polar Bond
Peptide bond formation Peptide bond formation
One of the many functions of religion is providing emotional support. This photo was taken in ... One of the many functions of religion is providing emotional support. This photo was taken in ...
What are examples of ideal forms? What are examples of ideal forms?
Double-check for any oil or vacuum leaks after starting the engine. Double-check for any oil or vacuum leaks after starting the engine.
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 ...
Video: Carbohydrate digestion (brush border enzymes, end products) & Carb absorption (fructose, galactose)

For a complete list of videos, visit our video library