Page 18 - Arkansas 811 Magazine 2018 Issue 4

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tyott ate going to he ltttldtng on a Contmclnr has sttceesstttlly eotnpletetl tt tteqttently; yuu tnttst have tlone
'-pttltltc tolt" — whete tlte ownet ts stnallet honaletl ptojecta, $500,000 ptojects of thts type and stae
a city, county state, etc — yott know 0! less, the company will luck tnote successfully hetote — antl pntve it; yott
they will he teqtnnng a bond tn favorably on his $lmil applteatton tnttst have assets 7 ptetetahly ltqtttd, in

the atnottnt at the jab. Thtsptotects the unless you have a ytstltle track tecoml, Excess nfthe bond amount. laeeattse, IF

enttty ttom having to te-htd tlte jab tn tt wlm'I happen. the hontl ts tletattlteol, you ate gotng to

case tlte winner ngtttes out he did the . . u ,, have to tettnhtttse the hanal company

tnatlt all wtong, anal walks off tlte job M?“ "Q? “*3 “"3 mm‘ W "‘“‘“‘ ‘ ’ tot tlte tttll atnottnt they have hatl to

tltts teally ts tttst a way to show the

ahottt halfway through. Thai bond has , ,, ,, expend on yottt behali— and yott have

to expand to whatevet changes ate put ;‘l“‘ f.}‘“_j;‘1“‘1:.‘§‘‘;1’ '5 b““‘“‘:‘;’‘“' to have tt to be ahle to repay it, right?

Ihrnugh So, altontltotsslmillton can b “C: STA“; :1 ' ' _ff°““ E‘ m‘ OR have someone to-sign who can

eastly be:umenbundio!$2 millmn. "“ ‘ ‘ "“ ‘°“?" ‘*9’ V 2 help pay it. Bonols ate the only Ihlng

"’“Y' 1‘ “‘° ‘°“"““‘" "' °“““°""‘“‘ W‘ that makes tt possthle tot contmclnrs to
ottchl wtns the htel, that bid bond converts . .
to U“ mmad band M which A grow tnto the large! (mote ptotttahle)
Yes, it's renllybzd when thattntllton Rmiumismendm; Ed "hmnm yobs
dullnrbund expands to $2 mil, then ‘_’ _ ’ 5‘ ‘ . ._
. sttccesstttl, no harm, no fuul 7 thete IS lnstttance ts altttetent altogether. Yuu
sotnethtng goes haywtte and the . , .
. no charge tot the ltttl band. A conttaet don t repay the tnstttance company tt a

°°“‘”‘°“‘”“““°”‘“‘*"l‘ “P’°‘““°“* bond enetall eostssomethtn tnthe claim ha ens ltahtttlaltn tsattttal

The ""““ ‘°"‘1’““Y‘° '“*"P°“"“"°‘°‘l“ net hlEothooalyot37i at the nltgnce if loss (ton? Etelotntoltt etc fia tnent

V95’ The ""“d “’“‘P“"Y }‘“*"‘° “°"" new>X>Vv1Ih}m:‘ he one ot two smallen iII.§ul’anEq€ a stottt Yotttilaleswtll

hi” ““"“‘°"°“"““°"° “°‘“|"*‘° hondeal obs ot):’s1oo 000 01’ so the h hl P Y} h l. d ’I
‘hi’P"’i“°‘“‘*”""“”““”I"}‘“‘“ bDndcol]'n an —lhthe nrelwillin to Ennthmy go“? H W“ on “Pay

any wonaletwhy the hontl company . _ P Y . Y 5 Y 5

. tsstteahontl at all—wlll charge tnote .
—uLhErw|se known as the stttety — Th . The only thtngs lnsulflnce and stttety
_ ey might also teqtttte collatetal . .
thotottghly examine: all appltcants for have tn eotnmon ts that they ate
(even a murlgngz on yttttt hottsel) ot
bands? _ . conttaets, they Charge a ptetntttm
pethapsan1tteyoeahleLettetotctetltt mdd“ ms Dndwjmedm bad
This is why it as almost ttnpttssthle fur — payable to the hond company in case h V P ’ 5
appens. That m1g,hl.s‘Dund1IkE the
a new tontmclnr to get hanaletl tot a of tletattlt . .
$1mfl.obfi hmulmhe am mm satnetlttnghttt,tntstme,tttsnot. W
1 5 5 ' Yottt etetltt mttst he almost petteet
is . masts s11 Muglszlne 201£,Lssu2 a and the band wmvany will check