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Construction bond claims 101: Understanding the process

December 6, 2021

Smart contractors always work to avoid claims situations but are also proactive about understanding the process. Leveraging their relationship with the right surety gives them the knowledge and experience of their claims team. Knowing the basics is the first step for any contractor who wants to take on bonded jobs.

The three main types of construction bonds are bid bonds, payment bonds, and performance bonds. Contractors should be familiar with the claims that can arise from each.

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