Advocacy - Position Briefs

Managing Project Risks Through Surety Bonds An Overview of the Importance of Surety Bonds For Architects and Their Owner Clients 

06-17-2020 12:20 PM

The goal of architects is to help ensure successful project completion and to enhance the reputation of the owner—and the architect.  Surety bonds play an essential role in the process by providing assurance the contractor is capable of meeting its contractual obligations and by protecting owners against contractor default and certain subcontractors and suppliers against non-payment.

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The goal of architects is to help ensure successful project completion and to enhance the reputation of the owner—and the architect. Surety bonds play an essential role in the process by providing assurance the contractor is capable of meeting its contractual obligations and by protecting owners against contractor default and certain subcontractors and suppliers against non-payment.