Allstar Surety provides Maintenance bonds for commercial and private projects. Maintenance bonds are a type of construction bond that provide for the upkeep of a project for a specified period of time after the project is completed. They are almost always required on public construction projects, while on private projects their requirement is at the discretion of the project owner.
Maintenance bonds also known as warranty bonds, guarantee a contractor’s work has been performed in accordance with state regulations, building codes and construction standards as well as to a certain quality standard. The ultimate goal of these bonds is to protect obligees against defective workmanship or materials.
Essentially a maintenance bond from Allstar Surety works like an agreement between the principal (the contractor), the obligee requesting the bond (the private or public construction owner) and the surety bond company that issues and backs the bond financially.
Allstar Surety provides maintenance bonds to contractors of all credit types. Contact a Surety expert today to learn more.