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Performance Bond Questions

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Why in many contracts, they seperating the advanced payment bond and the performance bond? Isn't it more handy to have one bond to cover all advanced payment and performance if the term set both guaranty finishes at the same time?...Read More
Anonymous Contractor
1 answerAdd commentMay 9, 2021
New YorkPerformance Bond
Are performance bonds typically capped at the value of contract? Who pays the delta if a subcontractor defaults and it takes $100000 more to complete the work by others....Read More
Anonymous Contractor
1 answerAdd commentJan 27, 2021
TexasPerformance Bond
My business (based in Washington State) is being requested, by a local City Agency, to provide a Payment Bond and a Performance Bond for window cleaning services. I do not know what these Bonds are, what function they perform, how to get them, or the cost associated with them. Help is appreciated....Read More
Anonymous Contractor
2 answersAdd commentMar 9, 2021
WashingtonPayment BondPerformance Bond
I have a subcontractor requesting payment for their performance bond. The project is for DOT, just this week we completed precon meeting and finalized a start date. No work has been done to date. We normally pay our subs once work has been completed, we have been paid then we pay our subs. Do we need to pay the bond before work has started, or tell them we will pay them once we are paid by the client?...Read More
Anonymous Contractor
1 answerAdd commentFeb 9, 2021
TexasConstruction ContractPay ApplicationsPay When PaidPerformance Bond
I'm a subcontractor working on a public works project and we have been referred to a surety bond company to obtain a bond for this job. We noticed there is an indemnity agreement that binds both our company and owners in the event the bond is enforced. Is this common practice? Is there any other alternative to surety bonds?...Read More
Anonymous Contractor
1 answerAdd commentFeb 8, 2021
CaliforniaBond ClaimsPayment BondPerformance Bond
hello, what is it called when you request data from a company to confirm they can perform the work being asked to perform? thank you! Trying to confirm the proposed contractors are actually qualified to perform the work....Read More
Anonymous Contractor
2 answersAdd commentDec 4, 2020
FloridaConstruction ContractPerformance Bond
I have sent several letters and followed the rules and I sent an fioa without a response What should I do ...Read More
Anonymous Sub-Subcontractor
Waiting for answerAdd commentOct 1, 2020
MississippiPerformance Bond
If the principal of a construction company has a felony conviction, will that prevent his company from obtaining performance and payment bond?...Read More
Anonymous Subcontractor
1 answerAdd commentSep 5, 2020
TexasPayment BondPerformance Bond
I have hired a GC and we are currently negotiating a lump sum price for the project. The owner plans on procuring a Payment and Performance bond on the GC but the GC is also including the cost for procuring P&P bonds for each of the subs (to protect themselves) and then wants to pass this cost along to the Owner. Should the Owner be paying for P&P bonds for both the GC and the subs?...Read More
Anonymous Contractor
Waiting for answerAdd commentAug 24, 2020
VirginiaPayment BondPerformance Bond
I have a contractor that has been paid for specific phases of a rehab project home in Grand Rapids. The bulk of these phases are either incomplete or not even started and no one has been on the job for a couple weeks. What can I do? Thanks for your help! Mike Robins 775-833-1228...Read More
Anonymous Contractor
Waiting for answerAdd commentJul 28, 2020
MichiganConstruction ContractPerformance BondRecovery Options
My company worked on a project and we were not paid. I file a claim against the performance bond but they denied the claim. So I file a mechanic's lien on the building. Now, the attorney for the owner/building is trying to bond-off the lien by claiming that the lien is illegal. They are stating that the performance bond protects the project/building against all liens. Is this true?...Read More
Anonymous Contractor
2 answersAdd commentJul 3, 2020
TexasBonding Off LienPayment BondPerformance Bond
I had a small specialty contracting business, Finish Carpentry. I had a performance bond issued by an insurance company, upon my making a one-time payment to the insurance company. I can't remember the name of the insurance company. I think I made a one-time payment to secure the bond, and the insurance company held onto my money to secure the bond. There was never any claims made against my bond. After 12 years of contracting, I closed my business. I forgot about the bond. Recently, I have been contacted by the bondholder/insurance company 26 years after closing my business because they are holding the money I paid to secure the bond, and they want to return it to me. It has accrued interest through the years. 1) From the above information, can you tell me what kind of bond I had? 2) I lost the letter I received from the insurer and I would like to know how I can find out the name of the company that was my bondholder/insurer. It was approximately 26 years ago that I closed my company, and I cannot remember the name of the insurer. Can you tell me how I can research that and find this information? Thank you very much. A. Mastick...Read More
Anonymous Contractor
1 answerAdd commentJun 12, 2020
WashingtonLicensesPerformance Bond
I submitted a bid for a prevailing wage project however the scope of work ended up being more than anticipated. We notified the General Contractor that our company would be unable to perform. No contract had been signed. That same General Contractor has reached out asking for money for liquidated damages for the delay they claimed to have experienced while finding a new sub to complete the work. The letter also states that they want payroll records from us working on the project however that is false. We never worked on site because we did not sign a contract. Their claim is that our written proposal is written contract enforceable by law. How should we proceed? ...Read More
Anonymous Subcontractor
1 answerAdd commentJun 22, 2020
CaliforniaPerformance Bond
How would we look up to see if a commercial construction project is bonded?...Read More
Anonymous Contractor
2 answersAdd commentMay 28, 2020
TexasBond ClaimsPayment BondPerformance Bond