1 April 2025 - CG Bonds Surety

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Construction Bonds Guide: What Is a Construction Bond & How Do They Work?

BlogBy Yasmeen Mohammed 1 April 2025

Surety Bonds remain significant in a range of industries but the Construction industry is the most popular. From Performance to Payment Bonds, there are several Construction Bonds that are used to ensure the completion of the construction project whilst protecting all parties involved financially. In this article, we will be discussing everything to do with…

What Is A Surety Bond?

UncategorisedBy Yasmeen Mohammed 1 April 2025

A Surety Bond is a legal obligation involving a three-party agreement between; the principal (contractor), the employer (obligee/project owner), and the surety/guarantor. Surety Bonds protect the employer from financial loss in the event of default regarding contractual obligations, as detailed in the bond wording and contract, that are not fulfilled. In this case, the Surety…

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