Can any Contractor get Bonded?
No. The purpose of requiring Surety Bonding is to have the Surety Company thoroughly analyze the capabilities and capacity of the Contractor to verify their ability to complete the project in the desired manner. Since the Surety Company is not in the contracting business and therefore has no desire to end up with having to complete the guaranteed work, they are very particular about the Contractors they bond.
Related Questions
- If a Contractor does not utilize VSC, how should the payment of IFF be identified if they are paying via check or other electronic submission?
- Is a Residential Builder or Residential Maintenance & Alteration Contractor required to carry insurance or be bonded?
- What does it mean to be a licensed and bonded contractor?
