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Daily Archives: March 8, 2023

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an accident of a man worker at a construction site, needs bonded insurance

Why Contractors Need To Be Bonded and Insured

Personal InsuranceBy Hermann InsuranceMarch 8, 2023

What Is a Bonded Contractor? A bonded contractor is backed by a third-party company known as a surety company. A surety company provides a guarantee of payment to the obligee that the principal will fulfill their obligations.    Before the surety company issues a bond, a contractor must meet the surety’s rigorous process of meeting…

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