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Electrical Contractors
Performance Bonds
Start with the contract and the obligation that needs to be bonded.
Review contractual insurance requirements and completed operations before the handover. A performance bond addresses a contractual obligation. Start with the contract, the party requiring the bond, the applicant, and the required bond form. Bonding is a distinct conversation from liability insurance and requires the surety’s assessment.
What We’ll Review.
Bond Requirements
Who requires the bond, and what form do they require?
Contract Scope
What are the contract amount, scope, and completion schedule?
The Applicant
Which entity will apply, and what financial information is available?
These topics help start a review. Insurance and bonding terms, eligibility, and availability require individual assessment.