Bonds in Business Insurance
What is a maintenance bond?
A maintenance bond guarantees that workmanship and materials will meet contract standards for a specified period after project completion.
Dig deeper
A maintenance bond guarantees that the contractor will correct any defects or issues in a project after completion for a specified period.
Real World Example
A bond agency issues a bid bond within a day, allowing a contractor to submit their proposal before the deadline.
Expert Considerations
Regularly review your bonding needs and update them as your business grows or diversifies.
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