Payment Bonds are provided to the project owner by the contractor after a contract has been awarded. The Payment Bond is a guarantee that the contractor will cover bills for specific project labor and material.. A Payment Bond also acts as a guarantee to subcontractors and suppliers for payments due from the project owner.
Do you have questions about Payment Bond?
Contact an insurance specialist at The Brooks Group today to answer any questions about Payment Bond or for a free review and insurance quote for Payment Bond.
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