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SpinDistribute.com Article Directory

The following article was published in our article directory on June 2, 2014.
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Contract Bonds with Joe Yardas Insurance, Your Safety Net to Construction-related Risks

Article Category: Advice

Author Name: Joe Yardas

Contracts and the fulfilment of them are important to any transactions. The presence of contracts is a way to guarantee that an agreement will be realized.

But there is a poignant truth: even in the presence of contracts, some even fail to deliver and carry on transactions. Therefore, policymakers have devised ways on how to assure that a contract will be honored though breaches have been prevalent nowadays.

Contract bonds are an example of these devised ways. Specifically, these bonds provide security against risks or breaches that may cause damage on your construction-related agreements.

Also dubbed as construction bonds, contract bonds are used heavily by municipalities and project developers across the country in the construction industry to minimize any risks.

As part of the construction law, these bonds are utilized as a guaranty to a project's owner, called as the obligee, that a general contractor, named as the principal, will stick and comply with the provisions stipulated in the contract. A third party, the surety, takes the role of assuring the obligee that the principal can perform the job.

Contract bonds have become a obligatory three-party policy for everyone who undertakes a construction project. They serve as safety nets as they provide protection for the financial interests of taxpayers as well as of project owners. They protect the obligee against losses or damages resulting from the principal's failure to meet the obligation that he or she formerly promised to do.

These types of bonds are further categorized. First the big bonds which guaranty that a contractor will enter and bind himself with the contract if awarded the necessary bid. Performance bonds, on the other hand, guaranty that a contractor will perform whatever is stipulated in the agreement.

Payments bonds are contract bonds meant to guaranty that a contractor will pay for services rendered during the construction period. Maintenance bonds guaranty that a contractor will provide facilities and other materials needed to maintain the constructed building's quality.

Carefully choosing a partner insurance agency in the acquisition of contract bonds is a crucial step in securing the transaction. In and beyond Texas, Joe Yardas Insurance Agency has built a name of being one of the best companies offering personal and business services.

Joe Yardas, the founder of the insurance agency, is a lawyer and a certified public accountant who has earned the reputation of being a trusted businessman as well. He has gathered capable staff and built the agency that has been serving his fellowmen for over 35 years now.

Joe Yardas Insurance Agency is committed in delivering faithful services that helps someone like you who seek financial safeguarding. Being an independent insurance company, they can work freely with other agencies in the industry and ultimately find you the best insurance, and in this case, the contract bonds, that you need.

Rely that Joe Yardas Insurance Agency can put you in a financially secured position. With its familiarity in this very complex industry, the company stays true to its longstanding commitment of helping you go that extra mile.

Keywords: General Liability Insurance, Commercial Auto Insurance, Builders Risk Insurance, Contract Bonds, Workers Compensation Insurance, Umbrella Insurance, Homeowners Insurance, Auto Insurance, RV Insurance, Boat Insurance

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