Contract & Construction

What bid, performance, and payment bonds do, why owners require them, what underwriters ask for, and how small contractors can get bonded fast.

One way for a construction contracting company to ensure access to critical relationships needed for sound business advice and for qualifying for surety credit is to partner with a professional surety bond producer, according to experts at the National Association of Surety Bond Producers (NASBP). Most contractors know that surety bonds help establish their credentials, … Continue reading Surety Bonding for Contractors →

Collusion is a word we hear a lot lately, did you know that it happens in the bidding process to gain an unfair advantage? According to Construction Business Owner Magazine, it happens in the construction industry by unscrupulous bidders. Most public and some private companies require a competitive public bidding process to choose the best … Continue reading Bidding War: Preventing Subcontractor Collusion →