Kendra Zacharias-Trujillo, Rio Grande Insurance Services Inc.
Many contractors — especially those with a demonstrated reliability and good credit — resent that they’re required to be bonded for the work they do and consider bonds an unnecessary expense for something that doesn’t appear to provide a tangible benefit.
But bonds protect the interests of both parties to a contract: They’re a form of credit that helps the contractor attract serious, big-ticket clients, and they assure the client that he will receive money to cover the costs of finishing a project that isn’t completed to contract terms.