Contractors Bonds (Contractors Surety Bonds)
There are several types of Surety Bonds for contractors: Bid Bonds, Performance Bonds, Payment Bonds, License Bonds and Supply Bonds are a few. In general, surety bonds assure a project owner that they can rely on contractor performance, ability to make payments to certain other parties (sub-contractors, e.g.), good faith bid submissions and so on. The issuer of sureties, usually an insurance company subsidiary, investigates the abilities of a contractor and, in the event of a valid claim, will make reimbursement for non-performance according to the terms of the surety.
Information Needed for General Agreement of Indemnity:
- Federal ID Number of each corporation
- Full Name and Social Security Number of each stockholder and their spouses
- Home Address of each stockholder and their spouses
- Legal Name and Address of Corporation.
- For Bid Bond Purposes - State(s) of Incorporation
Contact an insurance agent at Trammel, Harper, and Williams, Inc. today to answer any questions about getting a Contractors Bonds.
3 Convenient Alabama Locations:
Trammel, Harper, and Williams, Inc.Birmingham Office
2073 Valleydale Road
Birmingham, Alabama 35244
Phone: (205) 988-3444
Trammel, Harper, and Williams, Inc.Pell City Office
1607 South Martin Street
Suite 4
Pell City, Alabama 35128
Phone: (205) 884-3444
Trammel, Harper, and Williams, Inc.Hueytown Office
2007 High School Rd
Hueytown, Alabama 35023
Phone: (205) 491-3456
