Bond producers add value by being advisers

2021-06-10

An analysis of tens of thousands of contracts found that the likelihood of insolvency for contractors without bonding is 10 times greater than that for bonded contractors, but users still need to be educated about the value of bonds and how they work, a surety executive said on a recent podcast panel. The discussion also touched on the vital advisory roles that bond brokers can offer, as well as the importance of proper record-keeping by contractors.

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