Bonds

Bonds

Bonds

“Bound to Protect”

To be utilized for any bids that may be participated thereon for a specified period of time.

  • Performance Bond
    • To be issued guaranteeing the prosecution of the project in accordance with the plans and specification for a specific period of time.
  • Surety Bonds
    • To be issued as full undertaking guaranteeing on the full recoupment on the Advance payment through deduction from progress billing.
  • Surety bond for release of 10% retention
    • To guarantee the repairs of any hidden defects and workmanship during the period of construction
  • Surety Bond (Maintenance & Warranty)
    • To guarantee the correction and repair of hidden defects in the materials and workmanship used one year from date of acceptance of the project.
  • Surety bond for payment of labor and materials  
    • To guarantee the payments of labor and materials by the Contractor.

Answers for any claims filed by third parties who have been deprived of participation in the estate of a deceased person within a period of two years from settlement.

  1. Notice of Claim
  2. Proof of payment
  3. Accomplishment report
  4. Principal Contract
  5. Proof of default
  6. Communication of principal with obligee

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