4 tips to assist struggling subcontractors
A subcontractor experiencing trouble can cripple a project; knowing about their difficulties early is better, but it doesn’t eliminate the risk of default.
A subcontractor experiencing trouble can cripple a project; knowing about their difficulties early is better, but it doesn’t eliminate the risk of default.
Performance and payment bonds guarantee the contractor will complete your project to the specifications outlined in the construction contract and will pay its subcontractors and material suppliers.
Despite challenges caused by the aftermath of COVID-related shutdowns and labor shortages, resilient contractors are gearing up to pursue new projects. Those pursuing public works projects or other bonded work will want to ask yourself: where do I stand with my surety?