A license bond and a payment bond?
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padraig
Apprentice
Joined: 03 Oct 2006
Posts: 9
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 Posted: 07/13/08 - 04:20 Post subject: |
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| Hello, I am a contractor and I have some problems starting my project. That is why I would be very grateful if you could help me clear some things. What do you know about a license and a payment bond? Feel free to write down anything you know about this matter. Thank you all for making a comment. |
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hugo
Apprentice
Joined: 23 Apr 2008
Posts: 5
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| Posted: 08/11/08 - 23:41 Post subject: |
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| License bonds are the type of surety bonds. Payment bonds like its name guarantee the payment in the event of contract defaulting. That means that you as the contractor will pay the laborers, suppliers. Usually this type of bond is being issued with performance bond. You should consult with a broker to help you clear all misunderstandings. |
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