Payment Bonds are provided to the project owner by the contractor after a contract has been awarded. The Payment Bond is a guarantee that the contractor will cover bills for specific project labor and material.. A Payment Bond also acts as a guarantee to subcontractors and suppliers for payments due from the project owner.
Contact an insurance agent at Litaker Insurance today to answer any questions about getting a Payment Bond. And don't forget, as an independent insurance agency, we represent several top rated insurance companies. We have the flexibility to help you find coverage at competitive premiums for business, home, auto, and more.
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