What You Need to Know to Protect Your Business
Like many legal elements in the construction industry, bonds can be difficult to understand and mistaking the use and purpose of a bond can be detrimental to your business. Karalynn Cromeens of The Cromeens Law Firm contributed a piece to the US Glass Magazine to explain what performance and payment bonds are and what guarantees they come with. A bond is not insurance, and it can put your business and personal assets at risk in the event that your performance does not comply with the contract or if someone who worked on a project wasn’t paid. Karalynn gives some helpful advice on how to be proactive and preventative as it relates to dealing with someone filling a claim on your bond. If you are interested in learning more on this hot topic, click here to read more.