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What does it mean to bond a job in construction?

In: Real Estate, Construction [Edit categories]

Answer:

The owner who is accepting bids to perform work requires the contrator to purchase a bond which guarantees that should the contractor fail to perform the work the owner can have another contractor finish the work at no additional cost to the owner.

First answer by Navyvet. Last edit by Navyvet. Contributor trust: 8 [recommend contributor ]. Question popularity: 1 [recommend question].

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