Surety bond (Construction Bonds) also known as contractor bonds is a legal guarantee issued by an insurance company (Surety) that provides financial protection to the hiring party (Obligee) in the event a contractor (Principal) defaults on a job, does not complete the project in surety bondtime, or fails to deliver up to adequate standard that was agreed before the construction contract started.
For more information visit website through www.constructionbond.ca/.
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