Construction Surety Bonds' Role in Project Assurance
A construction surety bond is a vital tool that provides project owners with financial security and confidence that the work will be completed according to the terms of the contract. In the construction sector, these bonds are usually required to protect against losses that result from contractor default or nonperformance under the terms of the contract. In short, a surety bond offers assurance that the project will be finished according to the requirements, even if the contractor experiences difficulties.
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