What type of bond guarantees that if a contractor goes bankrupt on a project the surety will

Question:

What type of bond guarantees that if a contractor goes bankrupt on a project the surety will pay the necessary amount to complete the job?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Construction Management

ISBN: 9781119256809

5th Edition

Authors: Daniel W. Halpin, Bolivar A. Senior, Gunnar Lucko

See More Books

Question Posted: Feb 17, 2024 04:00 AM

See More Questions

Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
Gonzales Food Stores, a family-owned grocery store chain headquartered in El Paso, has hired you to make recommendations concerning financing needs for the following two situations. Part I: Initial...
If r = (t, t 2 , t 3 ), find r(t) and r(t).
Define artificial intelligence (AI).
explain the relationship between changing market interest rates and the price of a bond.
What is the effect of a weak euro on European exporters? What is the effect on European consumers? LO.1
On January 1, 2010, Rodgers Company purchased $200,000 face value, 10%, three-year bonds for $190,165.35, a price that yields a 12% effective annual interest rate. The bonds pay interest semiannually...
Brief Exercise 10-12 Pina Colada Corp. has issued three different bonds during 2019. Interest is payable annually on each of these bonds. 1. 2. 3. On January 1, 2019, 1,000, 8%, 5-year, $1,000 bonds...
What is the purpose of the following documents in a construction contract? a. General conditions b. Special conditions c. Addenda d. Technical specifications
Who are the three basic parties involved in any construction bonding arrangement?
What is a tax-free merger?
1. Why do companies that choose to open subsidiaries in other countries have different HR responsibilities? 2. How has globalization allowed companies to become "global companies" more easily? 3....
Is Kroger's innovation Product-related or process-related? Do the innovations tend to be incremental or radical? https://www.thekrogerco.com/about-kroger/our-business/ Kroger Co. opens new spoke in...
Define what is Process Mapping/Value Stream Mapping How do you apply process mapping methodology? What are the advantages of leaders using process mapping Identify a real world business...
What role do formalized processes and protocols play in highly structured organizations, and how can organizations balance the need for structure with the imperative for flexibility and innovation ?
In what ways do decision-makers balance quantitative data with qualitative insights to optimize complex strategic choices, especially in high-stakes business environments where traditional metrics...
Why does every bank have a vested interest in optimizing its reserve assets? What does a bank lose by keeping too many reserves? What does it risk by keeping too few reserves?
The following cost information was provided to you for analysis: September 12,000 Units Produced Costs: TIC TAC TOE TING August 10,000 P80,000 70.000 60.000 50,000 How much is the fixed cost per...
Explain organizing for safety.
What are two major economic benefits of a good construction program?
What factors influence the rate assigned to a contractor for Workmens Compensation insurance?
Flexible manufacturing places new demands on the management accounting information system and how performance is evaluated. In response, a company should a. institute practices that reduce switching...
Revenue and expense items and components of other comprehensive income can be reported in the statement of shareholders' equity using: U.S. GAAP. IFRS. Both U.S. GAAP and IFRS. Neither U.S. GAAP nor...
Kirk and Spock formed the Enterprise Company in 2010 as equal owners. Kirk contributed land held an investment ($50,000 basis; $100,000 FMV), and Spock contributed $100,000 cash. The land was used in...

What type of bond guarantees that if a contractor goes bankrupt on a project the surety will

Question:

Step by Step Answer:

ANSWER The type of bond that guarantees if a contractor goes b...View the full answer

Construction Management

Students also viewed these Business questions