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These bonds are great for the party who was given the favor. If the bond is issued against the developer, the contractor has the right to claim for payments and also the developer will carry the obligation if conflicts take place on the project. It also works vice versa if ever the bond is directed towards the contractor.
United Surety Bonds
These performance bonds and bid bonds help make sure that there'll be no party above the other. Rates will be between 10-15% for the bond mentioned in the contract. As a whole, the risk level of these parties is the basis on the rates offered.
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