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.

A form of business insurance that offers an employer protection against losses – either monetary or physical – caused by its employees’ fraudulent or dishonest actions

  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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