Construction Bonds: What is a Bid Bond?

Bidding season is upon us again, which means there will be an increase of available projects.  However, to some contractors, this may be the first time you have seen the requirement of a project needing a bid bond.  This process may seem overwhelming, but it is easier than you think.

A bid bond requirement can be a way for project owners to begin the bidding process, and to weed out those contractors who are not qualified to do the work.  This shares additional information about what a bid bond is and how it works.  Your team of experts at Assurance Brokers can help you get established in construction bonding to open a new avenue of business potential.  We can simplify the process and create a plan to meet your bidding needs.