Working as a contractor or repair professional usually requires multiple types of liability insurance protection. This coverage may not be enough to satisfy state law requirements. During the bidding process, you may be required to hold surety bonds Michigan before completing any work.
After the issuance of your license for contracting, the state requires you to secure a bond as a contractor. This is a promise to the state that your license will remain current, and that you will seek required education, and adhere to code requirements. This surety bonds Michigan protection is essential when you are a professional.
The client may need protection during the contracting process. A contractor that accepts and bid and changes his or her mind usually leaves the client to find another bid. The surety bonds Michigan will help protect against these procedures and many project jobs require surety bonds Michigan before quotes are offered or accepted for various projects.
Performance bonds will guarantee your job performance after accepting a bid. You make a promise to meet the required deadlines and complete all work professionally. If you have surety bonds Michigan, the client will be protected with insurance if the job is not finished.
Commercial contracting insurance does not offer protection like surety bonds Michigan. These bonds are not insurance policies, but offer protection. Building your client portfolio is often a sign of a professional contractor and one that is serious to compete in the professional contracting business. These surety bonds Michigan show each client a level of professionalism compared to unlicensed non-bonded contractors.