Amount Of Performance Bond In Construction | Performance Bond Indemnity Agreement

Surety is Smart Business- Importance of Performance and Payment Bonds

Surety is Smart Business!

A Performance Bond provides the project’s owner with a guarantee that the project will be completed in accordance with the specifications and requirements of the executed contract. A Payment Bond benefits the subcontractors and suppliers to ensure that they are paid in accordance with the terms for which they provided their product or service to the project specified in the contract. The Mississippi Business Journal explores in more detail why Performance and Payment Bonds are important to construction projects. A link to the informative article can be found below:

COMMERCIAL FINANCE 701: Payment and performance bonds in construction projects

If you have questions or would like to discuss Surety in more detail, please feel free to contact anyone in the Bond Department here at Early, Cassidy & Schilling, Inc. by phone at 301-948-5800.  If you prefer email,  Lynne Cook can be reached at [email protected], Courtney DeCroes can be reached at [email protected], or John Blackwell can be reached at [email protected]

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