Quote:
| Originally Posted by bondman The purpose of a bond is protect the Employer, whoever that may be. Bonds can and are issued in favour of both Public and Private employers. Specifically the Miller Act and the principle of 100% Performance and Payment Bonds was introduced to protect public interest but that has never meant that Suretys cannot issue bonds to other parties. |
OK - makes sense. But why then can't homeowners require contractors to provide bonds for their private work? Are their specialty markets out there who will?