Competition in the construction industry is strong. To maintain or increase the opportunities of your business, you can take advantage of the bonds as a tool to obtain competitive advantages. As an insurance and surety agent, we tell you what a bond is and how it can help you boost your construction company.
Many construction projects and works – public and private – require bail. If you are working on several projects, you need bonds for each job. These guarantees promise the completion of your projects, according to the terms established in the contract.
To obtain a construction bond, it is recommended:
The price of bonds is based on the type of project and the amount that the surety is willing to support. To know more about bail bonds, visit BondCliff.net site.
A bond is a contract -which you can acquire with an insurance and surety agent- that ensures the fulfillment of an obligation or payment. To sign contracts, guarantee the delivery of your projects or close deals (between individuals and the government), bail is indispensable.
The Federal Civil Code of Mexico defines the bond as ” … a contract by which a person agrees with the creditor to pay for the debtor if he does not do so “.
The contract you sign with your agent, known as a policy, involves three people:
To comply with the obligations contracted with the owner of the work, there are four main construction bonds :
In Solley we have a business model specialized in bonds. For example, we understand that insurance back you after a loss, but bonds have particular advantages for your construction company, such as: