What are the five types of surety bonds used in construction? What are the purposes of each type of bond?
What will be an ideal response?
The five types of surety bonds used in the construction industry are: (1) A bid bond guarantees the obligee that the bidder will meet all contact requirements and accept award of the contract at the price bid. (2) A performance bond guarantees that the contractor will perform according to the terms of the contract. (3) A labor and materials bond guarantees that the contractor will pay anyone who contributed labor or materials to the project. (4) A maintenance bond guarantees that the contractor will respond to all warranty calls during the warranty period. (5) A supply bond guarantees that a material supplier will comply with the terms of a supply contract.
You might also like to view...
Es probable que las vías de levante se construyan con formas _____.
a. deslizantes verticales b. de columnas c. flexibles d. de poliestireno
Most hydrothermal plants in the U.S. are located in the state of _______________
Fill in the blank(s) with the appropriate word(s).
A wall brace is positioned so that it makes an angle of 42°0' with the floor. The brace is fastened to the floor at a distance of 11.25' from the foot of the wall. Compute the required length of the brace rounded to the nearest hundredth foot.
Fill in the blank(s) with the appropriate word(s).
Cardiac muscle cells have abundant reserves of myoglobin, which function in
A) removing waste products. B) storing iron. C) removing carbon dioxide. D) storing oxygen. E) the shortening of individual sarcomeres.