A bid bond is used to solidify a deal made between a contractor and project manager. This type of bond helps to guarantee that the bid placed by the contractor is accurate and will then be followed by a performance bond. Bid bonds are required by law for any type of federal project and are most common for construction projects and general contractors. Unlike a surety bond, … [Read more...]

[mv_video doNotAutoplayNorOptimizePlacement="false" doNotOptimizePlacement="false" jsonLd="true" key="ahpifdr3wmfh4snka49h" ratio="16:9" thumbnail="https://mediavine-res.cloudinary.com/v1677175546/ovwbtjrr4mnqy6ugi2m1.jpg" title="What Is A Certificate Of Insurance?" volume="70"]  A certificate of insurance (COI) is issued to small business owners to show proof of … [Read more...]

Workers’ compensation, also called workman’s comp, is a type of insurance that grants benefits to employees who are injured on the job or who develop a health condition related to their work duties. This insurance provides compensation for financial damages related to the incident, including healthcare expenses, lost wages, and any other losses. This is a key concept for … [Read more...]