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| Originally Posted by Bond Magician Why won't a Surety company approve work that is being done for a homeowner (private job)? |
Good question. The purpose of a bond is to protect public money - as in taxpayers. Not for their private work - but for public work. The bond is to make sure that if a contractor starts a job for a municipality and decides not to finish, that the Surety will come in to complete the job. It is suggested that a homeowner have a written contract with the contractor and that they check references thoroughly.