It is vital that construction contractors, regardless of tier or trade, understand the basic principles of contract surety bonds. An understanding of how bonds are used in construction; and, importantly, how the surety company prequalifies the contractor is critical. Surety Bonds are mandated by various federal, state and local laws, but may also be required by the private sector as well. Recently, as part of WIPP's Give Me 5 webinar series, bonding specialist Ellen Neylan, along with construction counsel, Jennifer M. Horn and Maria Panichelli, discussed these issues in detail. Below are some highlights of the discussion.
As a federal contractor in the construction industry, it is imperative that you obtain proper bonding – but this is a highly complicated subject that could end up costing you an incredible amount of money if you don't fully understand the nuances and ramifications. This webinar unravels the most important aspects of bonding and liens providing you with important guidelines for success.
This entry was posted in Government Contracting and tagged construction, contractors, Ellen Neylan, Federal Miller Act, finance, Give Me 5, government contracting, guidelines, Jennifer Horn, legal counsel, Maria Panichelli, payment bond, Performance bond, subcontractor, Surety Bonds, United States, WIPP by WIPP. Bookmark the permalink.