A Washington Continuous Contractor’s Surety Bond is a legally binding agreement that protects the state of Washington from any losses resulting from a contractor failing to fulfill the terms of their contract. The bond guarantees that a contractor will complete the work they have contracted to do in a timely fashion and to the highest standards of quality. The bond also ensures that the contractor will pay all materials, labor, and other costs associated with the project. The bond does not cover any intentional or malicious acts on the part of the contractor. There are two types of Washington Continuous Contractor’s Surety Bond: the Commercial and the Residential Bond. A Commercial Bond is typically required for contractors performing work for businesses and commercial properties. This bond is typically larger in value and is designed to protect the owner of the property in the event that the contractor fails to complete the project as promised. A Residential Bond is usually required for contractors undertaking work on private residences and is designed to protect the homeowner from financial loss in the event that the contractor does not fulfill their obligations.
A Washington Continuous Contractor’s Surety Bond is a legally binding agreement that protects the state of Washington from any losses resulting from a contractor failing to fulfill the terms of their contract. The bond guarantees that a contractor will complete the work they have contracted to do in a timely fashion and to the highest standards of quality. The bond also ensures that the contractor will pay all materials, labor, and other costs associated with the project. The bond does not cover any intentional or malicious acts on the part of the contractor. There are two types of Washington Continuous Contractor’s Surety Bond: the Commercial and the Residential Bond. A Commercial Bond is typically required for contractors performing work for businesses and commercial properties. This bond is typically larger in value and is designed to protect the owner of the property in the event that the contractor fails to complete the project as promised. A Residential Bond is usually required for contractors undertaking work on private residences and is designed to protect the homeowner from financial loss in the event that the contractor does not fulfill their obligations.
