For this week’s Guest Post Friday, Construction Law Musings welcomes Danielle Rodabaugh. Danielle (@DaRodabaugh) is the chief editor at SuretyBonds.com, a surety provider that works with construction professionals across the nation. Danielle writes to help construction professionals and their lawyers better understand the intricacies of the surety market.
From time to time, contractors struggle to get the surety bonds they need to work on certain projects. Fortunately, the Small Business Administration’s Office of Surety Bond Guarantees program provides bonding services to construction professionals who cannot qualify for contractor bonding in the commercial market. Through its program, the SBA guarantees bid, payment and performance bonds that prevent financial loss when contractors default or fail to fulfill contractual terms. As such, the SBA helps small contracting firms get the bonds they need while also protecting project owners owners from losing their investments.
