Surety bonds are three-party contracts in which a Surety company financially guarantees to an obligee (entity requiring a bond) that the principal (you, the contractor) will act within the terms established by the bond.
The functionality of surety bonds and the role of surety agencies are very straightforward however, Continue Reading...
Projects performed on city or county property typically require contractors to file a permit bond(s) before a construction permit will be issued. Here’s what contractors need to know about permit bonds.
Construction permit bonds are surety bonds required by a local municipality or state agency Continue Reading...
California law requires that every licensed contractor must have on file at all times with the Contractors State License Board a current and valid Certificate of Workers’ Compensation Insurance, Certificate of Self-Insurance or file a certificate of exemption demonstrating they are not required to obtain or maintain Continue Reading...
The work contractors do is hard; getting paid for it should not be. Contractors deserve to be paid for their work on-time and in full. Unfortunately, payment delays are not uncommon in the industry. Below are some tested strategies contractors can take to reduce the risk of late payments and ways to handle them if they do occur.
Besides years of experience and on-the-job knowledge accumulated, a contractor’s tools are the most important asset they have. A construction project, no matter the size, cannot be completed without the small hand tools or power tools a contractor accumulates over his or her career. Should tools go missing or be vandalized, there is a cost to replace them that can lead to project delays and loss of work. As construction tools become more Continue Reading...
