Bozzuto Insurance Services has a long and deep understanding of the construction industry, which allows us to offer you the best insurance products and services. Here are some of the types of bonds offered:
Performance bonds: assures that the contract will be performed according to its terms and specifications. If not, the bond generally obligates the surety to either 1) finance the contractor, 2) undertake completing the project, 3) tender another contractor to the owner… or pay the bond penalty.
Payment bonds assure that a contractor will make prompt and full payment for labor and material consumed on a project.
Maintenance bonds: assures a project will remain free of defects in workmanship or materials for a specific period of time.
If you need a better understanding of Construction Bonding and what your company may need. Contact our Commercial Insurance Brokers Today!