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Surety Bonds 1.Describe the three types of bonds.Include all parties involved and the responsibilities of each party. (3pts) Bid bond Performance bond Payment bond 2.What

Surety Bonds

1.Describe the three types of bonds.Include all parties involved and the responsibilities of each party. (3pts)

Bid bond Performance bond Payment bond

2.What are the responsibilities and alternatives of a surety in the event of a contractor defaulting on a performance bond? (4pt)

3.What is important for the qualifying process? (2pts)

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