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Performance Bond Frequently Asked Questions

In this article, we tackle Performance Bond frequently asked questions. Performance Bonds don’t have to be confusing and we are always available to educate anyone on the process. What is a Performance Bond? A Performance Bond is a type of contract (construction) surety bond. It is a three-way guarantee where the third-party bond company guarantees […]

Performance Bond Costs and Payment Bond Costs

Performance bonds and payment bonds costs vary depending on a number of factors. Many websites will just say 1%-3% and leave it at that without giving contractors insight to improve their rates. This article is a deeper dive into the costs of contract surety bonds including performance, payment and maintenance bonds. Let’s examine the factors […]

Performance Bonds and The Coronavirus

  As the Coronavirus (COVID-19) continues to expand around the United States and the World, it may only be a matter of time before U.S. construction projects and possibly contractor performance bonds are also affected by the virus. We know that performance bonds guarantee that a project will be completed by a contractor according to […]

Performance Bonds – Everything Contractors Need to Know in 2020

Welcome back to Work in Progress. I’m Ben Williams with MG Surety Bonds and this is our show dedicated to surety bonding and all things construction. Today we’re continuing to talk about the basics and we’re going to tell you everything you need to know about a performance bond, stay tuned.

Performance and Payments Bonds for Solar Contractors

Although some tax credits have gone away, green construction is not going anywhere. In fact, solar energy projects have continued to grow around the word as the technology improves and the price of panels continues to decrease. China and the U.S. lead the way and are project to have the most solar panels installations by […]

Performance and Payment Bonds vs. Subcontractor Default Insurance

We often get asked about subcontractor default insurance (SDI) and how it compares to surety bonding. Some people just call it “Subguard”. Subguard is Zurich’s proprietary product that was first introduced to the market, and that many contractors are familiar with that term. However, many insurance companies have entered this product field over the years. […]