Solar Power Performance Bonds For Commercial Construction Projects Update
The updated solar power performance bond service from Surety Bond Professionals offers EPC bonds, or Engineering, Procurement, and Construction bonds, that are customized to the requirements of a project and all parties involved.
More information is available at https://www.suretybondprofessionals.com/solar-power-performance-bonds/
With their updated solar power performance bond service, the agency’s team of surety industry professionals makes it easier for contractors to bid on more commercial solar projects without adding the liability costs to their balance sheet.
As the demand for solar power continues to rise many businesses are looking to install systems on their premises. However, with this growth, contractors looking for projects can find their expenses increasing due to the performance bond requirements of project owners. Surety Bond Professionals offers a cost-saving solution to this problem with their solar power performance bond services.
A solar power performance bond acts as a guarantee that contractors will complete a project in accordance with contractual requirements. The agreement spells out the terms that the principal (the contractor) must follow to avoid a violation that could result in a claim against the bond. It also makes the contractor solely responsible for paying any valid claim against the bond. Although the principal is legally obligated to pay valid claims, most times the surety will pay the claim and then be repaid by the principal.
With over 30 years in the surety bonding industry, Surety Bond Professionals have the experience and insight to create customized bonding solutions for clients. Based in Natick, Massachusetts, the company also understands that different states have varying requirements for their bonds and can offer their services according to their client’s location and needs.
A spokesperson for the bond agency said, “We view our clients, underwriters, and employees as our “Business Family” and strive to provide them the highest level of service and care. We believe by taking this approach, we can all be successful together!”
Interested parties can find more information by visiting https://www.suretybondprofessionals.com/solar-power-performance-bonds/
Surety Bond Professionals, Inc.
205 Union Street