What is a Construction Payment Bond?
A construction payment bond is important to understand because it's often part of getting bonded with a performance bond and bid bond.
This video will explain how a payment bond works and how you can get started with bond construction bond program even if you're an emerging construction company.
Use these timestamps to skip around if you need to rewatch a specific part:
- 00:27 - What is a Payment Bond?
- 00:51 - How a Payment Bond Works
- 01:33 - How is a Payment Bond Cost Is Determined?
- 02:00 - How to Work Construction Bonds into Your Project Bid
- 02:19 - How You Can Get Pre-Approved for a Bonding Capacity
- 02:45 - Apply for Your Pre-Approved Bond Capacity Today
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