A business may hire another another company to complete a project for them; however, sometimes the hired company cannot fulfill its contract. When this happens, the hired company will be held fully responsible for the losses because of their breach of contract. A surety bond ensures that the project is completed by the hired company and keeps the company liable for all aspects of the contract. Nickerson offers many different insurance plans for all kinds of different businesses.
If you hire a contractor for a construction project, a construction bond will ensure that they complete their project according to the specified contract. This guarantees good workmanship and completed work. A surety bond keeps the contractor liable for the completion of the project. If the project cannot be completed, the expenses will fall onto the contractor.
Sometimes a company may enter into a contract with the government and will need a commercial bond to show that they are being fully compliant under all laws in their industry. This is necessary for businesses that are working under agricultural, liquor, lottery and other kinds of tax and quality laws.
Our agents are always happy to talk to business owners about the surety bonds are necessary for their business. We pride ourselves on our personal service and our great insurance plans. Our surety bonds help business owners show that they can fulfil their contracts and will comply with all laws.
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