Guest Blog – Public Contracting: Why You Need Performance and Payment Bonds

On March 2, 2015 by

On Mar 02, 2015

by

  • In case of government contracts, there is lot more at stake than private construction projects, as there are many stake holders in the form of tax paying citizens, who will proactively seek answers if the project goes over-budget or any thing that can go wrong, actually does. Payment and performance bonds become extremely important in this scenario to ensure quality construction with in the time frame. I would also strongly recommend these bonds to be used in private construction projects to ensure prompt payment and quality.

  • Perhaps that is why I look on those in the construction industry with reverence.

  • Stakes are very high for those people.

  • Excellent post!