Surety Bond

Surety Bond

A supply bond guarantees a supplier will be able to provide the materials needed to fulfill the contract between the supplier and purchaser. This bond will reimburse the purchaser should the supplier not complete the terms of the contract.

A performance bond guarantees performance of the terms of a contract.These bonds frequently incorporate payment bonds (labor and materials) and maintenance bonds. Bonding ultimately aims to protect the project owner from financial loss should the contractor fail to perform the contract in accordance with its terms

A payment bond covers payment of subcontractors, laborers and materials suppliers associated with the project. Payment bonds are issued for the protection of those supplying labor or materials to a particular bonded project.

The purpose of this bond is to guarantee the completion of the sewer management facilities pursuant to the requirements set forth in the State of South Carolina to maintain sediment and erosion controls according to the Review Complete Plans; and, to maintain and operate sewer management