What Factors Go Into the Cost of Bonds

License bonds for contractors are binding contracts among three parties: the principal (contractor), obligee (entity requiring the bond), and surety provider that guarantees the contractor’s obligations. Most states require contractors to get a license bond to work. The license bond protects subcontractors, residential or commercial clients, and suppliers should a contractor cause damage to these…

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Understanding the Essentials of Credit

When it comes to contractor license bonds, credit may not be the first thing you think about. However understanding the essentials of credit is crucial for parties looking to secure a bond. If you’re a contractor embarking on an exciting new build, understanding the essentials of credit will help you find the best bond rate.…

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Carpenter License, Bond, & Insurance Requirements in Arizona and Washington State

Carpentry is a skilled trade, with carpenters working indoors and outdoors on many construction projects – from furniture design and construction, door and window installation or repair, flooring installation, trim and molding installation, custom woodworking, stair construction, structural framing, and furniture repair. To be a successful carpenter and help your business expand, you must comply…

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How to Get a Plumber’s License in Arizona

The plumbing industry in both the residential and commercial segments can expect continued growth into 2024, especially for smart plumbing devices for enhanced control and optimization, eco-friendly plumbing products and practices, such as low-flow fixtures, greywater recycling systems, and water-efficient appliances, and enhanced leak detection and repair systems. “In addition, given the unprecedented frequency and…

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Common General Liability Claims for Contractors

Most projects and jobs contractually require contractors to have General Liability insurance. This policy protects your company assets if a job site accident causes bodily injury or property damage to a third party. It also may provide coverage for against claims for, libel, slander, false advertising, and copyright infringement. Here are several common construction claims…

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Inside a Contractor’s Insurance Toolbox

Whether you’re a plumber, carpenter, roofer, electrician, or a general contractor, the projects you work on are fraught with various risks. Before bidding on a project or going to work on a new build, renovation, or repair, check that your tools, equipment, and materials are all ready to go and ensure your insurance program covers…

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Safety on the Construction Job Site

The most common construction job site hazards are slips, trips, and falls. Ensuring safety on a job site is crucial in helping to mitigate accidents to visitors and workers. Here are several safety measures that construction companies and contractors can implement. Clear Signage Ensure there is clear and visible signage indicating areas with potential hazards,…

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Tips on Budgeting a Construction Project

Whether embarking on a residential or commercial construction project, all contractors know that budget is key. Staying on budget without cutting any corners is the top concern for clients and project stakeholders alike — but such a task requires the right organizational skills. Creating an accurate budget actually starts before construction even begins. Regardless of…

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Washington State Contractor License Bond: What You Need to Know

If you’re planning to work as a contractor in the state of Washington, obtaining your contractor license bond is a crucial aspect of operating a safe and legal business. Contractor license bond requirements vary from state to state, and the Washington State Department of Labor and Industries requires that contractors hold a Washington Contractor License…

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