Contractor and Clients Bonds in a Project

When you entered the contract, you and your contractor will agree on some matters. A building contract is a huge project which needs a big capital. It is not all about the business, but we should understand that above all, the quality of the project will not suffer. Quality always goes with finding a quality kind of materials which will be needed in the construction process. The contracts and bonds will always depend on the agreement between the contractor and the client. There are legal documentations which you will both sign in order for the agreement to become useful in court whenever one party will breech the contract.

Bonds are collected upon agreement. Before the project started, there are certain bonds which the contractor should comply and an as a return, the client will also assure that he can pay the whole amount of the project to the contractor. One on-demand bond the contractor will ask to his own client is the advance payment bond. This is a type of bond demanded by the contractor to his client in order to cover some of the startup cost of the project. Since procurement may be the most critical stage, the contractor will meticulously be picking and shopping for the materials which has the highest quality possible but still fits to the project’s actual bidding cost. Sometimes, some high quality and expensive kind of equipment will be needed specifically for the project, therefore the contractor will need an extra cash in order to meet the demands which the payment falls as a down payment for the project.

When it comes to a bigger project, we always want everything to be well made and fit to the description of every material to avoid building collapse. Collapse really do happen in some projects even when the project is ongoing due to low quality of materials bought and injected into the building and cannot sustain a great mass. This type of incidence was covered by the surety bond. They are mainly a deposit used to assure that your contractor will fix those risk and delinquencies brought about by poor materials or poor quality of work. It needs a guarantor in order for the contractor to do a quality kind of job and perform his obligations to his own client.

There are some companies offering assistance in obtaining all classes of bonds used in every project. You will just be obliged to meet and submit the necessary papers and documents in order for you to fast track your application in obtaining a bond which you will need before starting the project. All bonds were legally support the party for any claims and questions related to the project that both the contractor and the client involves with. In the United States, it is a mandatory for both party to comply the documentations before starting the project to ensure that everyone will follow through with what has been agreed upon and do a high quality kind of work to avoid damages and repair.


Facts About Ways A Performance Bond Works?

When building a certain project there are people responsible for each work. What you need for them to do is to perform a good job by finishing what is agreed upon. Bonds are the assurance that holds true to this. Bonds guarantee the contract will be completed as agreed. This is the performance bond, that both parties agree and it is the one that will give financial safety to the project. The contractors are the ones whom will be able to secure the bonds in order to assure their kind of performance and work they do in the agreed contract.

Details of Performance Bond
Usually there is a surety agency that takes in between the oblige and the contractor to be able to see the contract has been done properly they see to it that the project is properly working and completed as agreed upon. But if something happens that the project has not worked then the surety agency will be the one responsible and are the ones who are under the performance bond and will be doing what the contractors are doing. Thus the performance bonds are the guarantee to which will promise the contractors that they will do the project as per agreed. The role of the surety agency is serious, as they are the ones that will be accountable to any damages done by the contractor.

Proper Utilization
These bonds in accordance to certain construction projects should be handled well. As most of the private projects would be using performance bond as they are assurance to the contractors project Whether the project is completed or not there will never be a room for fear of incompletion of projects since there is a bond that backs up a very important things to have is to use this in the right way, as it is a big help to have bonds like this. As when there are also damages done to the project after the completion of project retention bond is also assured. Bonds like these should be properly used and use at the right time.
The Necessity Of Having Bonds

Bonds are necessary in every project as they are an assurance to the contractors that projects should be done well. Without bonds, then the contractors are disqualified to have the project and there are also penalties and fees imposed.

How much do performance bonds cost?
This would depend and would base upon the financial history and credit history of the contractors. If it has a good standing financial history then contractors would be paying a range of 5% of the full value of the bond. If these contractors also qualify then they are expected to have a rate that is competitive.

Bonds are necessary to have. As these are the assurance of the projects that should be completed as per agreed. A protection that will guarantee the job will be performed well and will make them responsible to pay the costs of the damages if there are. As there will always be someone liable to something if the project is not properly done.


Motor Trade Insurance

Ways to Avoid Scam with Fake Motor Trade Insurance


Getting involved in motor trade business soon? Or are you already running the business now, but you feel that there is something lacking in it? Have you ever thought of insuring your business in order to protect your assets? If not, you must do so now. Motor trade business is no joke, or like any other forms of business, but the difference in losses is great. Motor trade could either be selling and buying cars or repairing them. Just imagine the financial losses you will get when an unforeseen incident happens. Motor trade insurance is important for your motor trading business and you need to search for the right things if you wish to get your business insured properly.

Basic Guide to Motor Trade Insurance

The key to getting the right coverage for your insurance depends on the scale of your business and the budget that you have. Not every motor trade business owners should get coverage they deem useful. At least the most important ones should be purchased first. Even other motor trading business owners rely on the minimum required insurance.

Next step is to find an insurance company to handle your policy. This step is where a lot of business owners get ripped off of their money. A lot of fraudsters have victimized innocent business owners into buying their insurance policies when they never functioned, operated or employed as agents in an insurance company. The reason why a lot of business owners are victimized is because of how these fraudsters offer great benefits, that seem too good to be true, that entices innocent business owners into purchasing from them. Offers like an interest-free overdraft, paying a fee over the Internet and just visit a certain bank where you can start claiming your policy, etc.

No matter how much the experts warn the public about being wary of such things, there are still victims along the way. People should take careful consideration when talking about purchasing insurance for their business. No matter how enticing the advertisements made by these agents are, it is only normal to do a simple research first. You can ask family, friends or acquaintances about the insurance agents or companies that have come up to you for their offer.

Insurance companies also have it tough. They are fighting back against fraudsters because there are also fake agents that abusively use their name when in fact they have no connection at all. In order for you to help insurance companies fight back against this scam, you should not buy any insurance that are offered via social media links such as Facebook or Gumtree. You should also avoid buying insurance that are offered through a mobile phone.

Still, this is not enough. There are ‘ghost brokers’ existing as well, and they make convincing advertisements that even the most educated individual still gets scammed. The best way, and one of the old ones at that, is to make sure that the insurance company of your choice has a full address of where they are operating, they are licensed to operate and make sure that they are registered with the FCA or Financial Conduct Authority or similar regulatory board that checks up on every motor trade insurance company if they meet the standards to operate.


Chauffeur Insurance: To Get or Not To Get One

Chauffeur Insurance1

There’s a quote by Suze Orman that says: “If a child, a spouse, a life partner, or a parent depends on you and your income, you need life insurance.” (Suze Orman, by the way, is a well known American author and TV host). If, as a business owner of a chauffeur service, you treat your employees as part of the family, people you do not want to lose, then one of the most important things you have to get is a chauffeur insurance. If not, then you might want think twice about that decision.

Chauffeur insurance and limo insurance are one of the lesser known types of insurances. But that was before the dramatic increase of such services.  When you are on the road nowadays, every other vehicle you meet would most likely be a car driven by a chauffeur, whether it’s a limo or a Benz or just an ordinary brand sedan, lot of people, even middle class men, would prefer to get chauffeur service from time to time because it’s more convenient and safer, especially if they  are traveling for business or leisure.

When getting chauffeur insurance, it is important that you have an idea on what most insurance companies offer and do not offer in a chauffeur insurance policy. For example, some insurance companies do not allow you to get insurance for drivers below or over a certain age. You might also want to find out what vehicles are being covered and the like. This is  because insurance companies do not offer the same coverage and what might be covered in one might not be covered in the other. If you have extra cash to invest on chauffeur’s insurance, you might want to get one that  is tailor made for your business, like for example, one that covers exactly how many drivers you have in your payroll. If you are a little bit strained on investing in a chauffeur insurance right now, there is no need to worry. You can still get one. Most, if not all, insurance companies who offer chauffeur insurance offer a payment scheme, which are most likely available in monthly installments (they might want it to be direct debit only though so ask about payment options and methods as well). You might also want to consider how good the customer service is when choosing which company to get your chauffeur insurance from because all of these companies are always great at the beginning but some of them may just leave you hanging on to a voice mail in the end.

There is also a secret to getting a good deal for your chauffeur insurance: get good drivers. Did you know that some insurance companies that offer limo insurance would be requesting for the records of the drivers you have under your payroll? The better your drivers’ records are, the better the chances of you getting offered a great coverage. Some companies even offer discounts for chauffeur services who are known for having good drivers.


Makeup Artist Insurance – is it Really Important?



Every job and business is different, and being a makeup artist is far different from any other corporate business. You might be asking yourself if it is really important to have insurance.

Yes, insurance really does matter. For one thing, makeup artist insurance helps not only you as the business owner, but your clients as well. It is your responsibility as the owner to equip your business with all kinds of insurances, from professional indemnity to public liability, fire insurances, equipment and theft insurances.  Makeup artist insurance is applicable to all makeup artists, whether working in a salon, or doing home to home services, or even during an event, where your services are needed.

There are thousands or even millions of people around the globe that use makeup to enhance their beauty. People also spend lots of money just to enhance their look – either through natural treatment or by medical treatment. As a professional makeup artist, who probably receives a high compensation, you mostly can afford to buy insurance, especially with today’s generation, that all things now pass through legal proceedings. What if you accidentally caused damage or unintentionally injured your client, what may happen next will lead to you being sued. Even if you consider yourself as an expert and for many years of working as a makeup artist you have never encounter an accident, however, you can’t predict what will happen tomorrow, nor can you prevent anything to go wrong. Tendency would be, if you don’t have any insurance, you will be paying a huge amount of money from your own savings and of course liability claims are very expensive. It would be a total loss and waste of good money that you save up for your future. And the worst thing is, you might never be able to get back on your feet.

Your clients trusted you when they asked for your services; they trusted you to take good care of them while they are at your care. In return, you also have to make sure that your clients are in good hands. When you have insurance, you can have a peace of mind that you are protected in case something, which you can’t prevent, will happen.

It is better to be prepared than nothing at all and be like a hopeless puppy when something accidently happens and you might end up losing your business too, if you don’t hurry now and secure your business by applying for makeup artist insurance.

Makeup artist insurance does not only help you but to your clients and employees as well. In having a business, either freelance jobs or not, there maybe also a higher risk that your employees will be also injured. As a business owner, your concern does not only cover your business, to your clients but most especially to your employees. What if your staff gets into an accident by working in your premises, has an allergic reaction when using one of your products, or get stuck by any natural calamities.


Arborist Insurance: Also Known As Tree Surgery Insurance


The world has evolved into a very dynamic and prolific place. It has even come to a point that we need very specific people to do very specific tasks. And one of these very specific jobs is tree surgery. Yikes! Even trees have surgeons now? Yes. And this field of biology (or is it medicine, perhaps?) has even become so developed to a point that in the United Kingdom, there has been a burgeoning of tree surgery insurance and tree surgeon insurance. And the former, I would like to coin arbor insurance.

Arbor insurance comes from two words: arboriculture and of course, insurance. Arboriculture is a more scientific term for tree surgery, which is the science of maintaining the health of trees and since everyone knows what insurance is, I don’t think I have to define that one. So arborinsurance is tree surgery insurance. And what do companies that offer tree surgery and tree surgeon insurance provide? Well, some basic insurance coverage and a lot more.

Like other insurance companies that cover other career aspects, you can avail of employers’ liability and professional indemnity policies when you get a tree surgery insurance. For the not so knowledgeable about insurances policies, employers’ liability is a policy which covers accidental injuries or bodily harm to tree surgeons and such when they get injured during work. A tree surgeon has its own identified job risks and hazards ranging from broken bones because of falling while checking a tree from a certain height or getting injured by a dead branch that had to be cut off. As for public and products liability, it would be the other way around. This policy is for the protection of the public and public properties which may get damaged due to tree surgery activities. Some of the policies that may be included in a tree surgery or tree surgeon’s insurance are more specific and offered only for these types of insurances. One policy that is being offered is usually termed as plant and machinery insurance coverage.  This is now being included by most insurance companies that offer tree surgery and tree surgeon insurance because loss of plant life can be distressing and loss of machinery and equipment can be even more distressing because these equipment are quite expensive. Tree surgeon tools are not limited only to shovels and watering cans. Remember, they are not gardeners. They usually do heavy duty stuff and would be needing equipment like chainsaws, wood shredders and even climbing equipment.

The good thing about tree surgery and tree surgeon insurances, though, is they do not cost a lot. Why, you might even find one at a very low price. If you are interested in getting this kind of insurance (if you are a tree surgeon, on a tree surgeon course or you are in the tree surgery business), shop online first for the best policy with the best rates and the one that provides the best customer service. Do not decide immediately and always read the fine print before signing.