Leawood, KS – Swiftbonds, a surety bond specialist company, continues to dazzle clients in the market with its leadership in 2016 as a performance bond supplier, through client satisfaction and high ratings. They have put in place structures to enable their continued stature as the leading performance bond supplier in the country in 2017.
“A performance bond is a bond that a surety company, such as a large insurance institution, issues to guarantee the appropriate completion of a construction project.” Spokesperson Gary Eastman says. “SwiftBonds has expertise that spans the full range of bonds and has worked vigorously to create industrial relationships and networks to ensure clients obtain the best rates available in the market. The firm utilizes these relationships with various other companies to give their unique clients the appropriate bond that suits their specific needs.”
Payment and performance bonds must not be confused with insurance policies. With insurance policies, insurers have to defend their clients and indemnify them. In addition, insurers are not repaid by the insured for losses or costs that come with a claim. With bonds, a surety looks to contractors to ensure a valid claim exists and that the surety will ask the contractor to indemnify it for lawsuit fees and damages claims. Insurance has loss risks spread among several parties while bonds operate under the impression that no loss will take place, although the sometimes loss does occur. This means bond premiums are lower than insurance payments. Find out more about payment and performance bonds at http://swiftbonds.com/types-bonds/performance-bond.
Suppliers, laborers, and subcontractors are some of the biggest beneficiaries of payment and performance bonds. Challenges arise for general contractors since they remain unaware of problems until they are served with claims against them. As such, sureties do not favor payment bonds because they often end up footing bills twice.
A proficient performance bond firm should have online-enabled application processes. This is through simplified online forms available at a click. While charges vary widely between service providers, the general rule is three percent for bonds whose value is less than $250,000. For figures higher than this, most firms use graduated scales for their bond rates. For those clients with bad credit ratings, bond rates have a higher price attached, and there is more stringency involved.
Should one be in the construction industry or wish to find out more about a performance bonds start with talking to SwiftBond LLC. Visit their website http://swiftbonds.com, or use any of the information listed below to contact them.
About the Company:
Swiftbonds, LLC is located at 4901 W. 136th Street #250 in Leawood, Kansas (66224). The company can be reached by phone at (913) 214-8344, or from their website, http://swiftbonds.com.
Company Name: Swiftbonds, LLC
Contact Person: Gary Eastman
Phone: (913) 214-8344
Address:4901 W. 136th Street #250
Country: United States