Page 20 - Damage Prevention Journal 2018 Issue 4
P. 20

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tyoa are going ta he biddlng on a Contmclnr has ..-aeeea.-tally eotnpleted it tteqaently; yuu mual have dane
"public lab” 7 where the awnet at ..-tnallet handed ptajecta, $500,000 projects of ([115 type and slzz
a city, eaanty, alate, etc 7 yaa know or lzsa, the Company will luck tnote succesafully hetate 7 and pnwe it; you
they will he requlnng a bond In fnvnrably on his $lmil applleatlan must have assELs' 7 preferably llquld, in

the atnoant at the jab. Thisprotzcts the Unlzas yoa have a viaiblz track aeeatd, Excess of the hand amuunl. laeeaa.-e, IF

entity ttaat having ta 1'2-bld the job In at wlm'I happen. the bond *t.- detaulted, yuu are gotng ta

case the winner agate. oat he did the . . u ,, have to relmburse the hand company

math all wtang, and walks nff the jab wt" “IP19? _“°" (“'2 M": ‘_’}‘f bf?‘ ‘ ’ tat the full amuunl they have had ta

ahoat halfway through. "lhat hond has ‘” '9“ Y " 1”” “ ""“Y °:‘ ,f’‘’’ E ,, expend an your hehalt7 and yuu have

ta ex and ta whatevet ohan estate at °““‘?"'““,}‘“ °““".‘““”"" "““d“b‘“' ta have tt taheahle lore a il,ri hi?

p E P , . P y g
. . that at hemn. the bld, he can gel the .

through so, abondiDr$1mIllIunc:m b d Ab.“ d H b ‘h on hzvesomeone CO-algn whnczn

Easlly heeatne a hand to: $2 millmn.  ‘H m;  fifizséul :nd help pay it. Bands ate the anly Ihmg

ouch! wins the bld, that bid hand converts ' "‘"?““"’ ‘”’°”‘bl“°’ ‘°“"“.‘""" “’

I (11 1 lb d i h. h grow tnta the larger (more profitable)

Yes, an renllybad when thnlmlllion ° “.““".”“ ““ ' °"" ‘C “. yobs

°°’““‘h‘“5 5°“ haywire “"d “'2 no aha etat the had hand Aeanttaet don't re a > the insuranczgcclm an tta
conlracturcnnnotfinlsh aspzomised. '5 _ __ ’ . . . P V _ . ._P‘ Y

The bmdmm in km Dmible ml“ bond generally CoaLs.~D|1\2Lh|ng|nIhE elann hnppzna. Iiabulldlnglaatulal

H E (h P "Mi ‘Pf Lh . I nelgl1bm'}IDudDf3% ui the jab pnee if lossfzom fire, lomadu, etc, repayment
2“ ‘Y °’ “°"‘‘’“ ‘’“° °‘’’‘’'“' ”allsysI2ma optnatal" lfacuntzaclozla isnullzqulred. Yuu wrzck yuurcal,
ye.-lrhehandeampanyhastanow . _ _ .
. new 7 wtth tnayhe one DI’ twa amaller Insurance paya for IL Your late: wtll
hue anathezeontzaclotlo complete b d d b_ E m0 000 _ Lh ,
._ . _ , ‘ an e ]u .50 :5 , orao, e paahahlygouphutyaadonttepay

““""""“°‘“‘*”""“”““"}‘“‘“ bnndcom an —!FIhs atewlllln ta an thin

“V ‘”’‘’“d’“ ""“Y ““ b°““ °‘““P““Y tame a bolfd a)l’ all 7 willyéhazge maxi y 8

—uLh2rwiseknDwn as the .aaety7 Th . M 1 H I 1 Theonly things Insurance and ..-aaety
thatoughly exatntne. all appllcnnls for ‘Y ‘"5 “ ”° ”““"‘ °“ “ 2” have in eotnman is that they ate

(even a murlgngz an yuur hat...-el) Cll’
bands? Em Hnlmvmble Lgmofcmm cunlracts, they Chalgeaprzmlum
. . . . . V P’ . and they te.-panol liaumethlngbad
The IS why It Is alata.-t lmpuasnblz fur 7 payable ta the hand Company In Case h .
appen.-. That might ..-aand IIRE the
a new tontmclnr to get handed fnr a of detault . .
slmflbbfi hmnmhe am mm sametlungbul,tzualmglllsnol. W
1 5 5 ' Your credit must he almost petteet
lab Damage Prevemlun Juumal-EH18 l:sugA and the hand Company will check





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