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    In today’s unstable and unpredictable economic climate, surety bonds are extremely important for company owners who wish to ensure that the legal terms of their closed contracts and agreements are properly respected by all parties involved. The practice of establishing surety bonds dates back hundreds of years ago, when such agreements had the role to increase the safety and efficiency of long-distance trade. Nowadays surety bonds can take various forms, play a wide range of roles and are commonly used to secure the terms of major contracts. At present, surety bonds are extensively used in the construction industry, as contractors are often obliged to provide project owners a bond that guarantees the respecting of the terms stipulated in the contract. Sometimes owners are also required to provide payment bonds to ensure that the suppliers and construction teams will recei
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    s and agreements are properly respected by all parties involved. The practice of establishing surety bonds dates back hundreds of years ago, when such agreements had the role to increase the safety and efficiency of long-distance trade. Nowadays surety bonds can take various forms, play a wide range of roles and are commonly used to secure the terms of major contracts. At present, surety bonds are extensively used in the construction industry, as contractors are often obliged to provide project owners a bond that guarantees the respecting of the terms stipulated in the contract. Sometimes owners are also required to provide payment bonds to ensure that the suppliers and construction teams will rece
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    increase the safety and efficiency of long-distance trade. Nowadays surety bonds can take various forms, play a wide range of roles and are commonly used to secure the terms of major contracts. At present, surety bonds are extensively used in the construction industry, as contractors are often obliged to provide project owners a bond that guarantees the respecting of the terms stipulated in the contract. Sometimes owners are also required to provide payment bonds to ensure that the suppliers and construction teams will rece
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    major contracts. At present, surety bonds are extensively used in the construction industry, as contractors are often obliged to provide project owners a bond that guarantees the respecting of the terms stipulated in the contract. Sometimes owners are also required to provide payment bonds to ensure that the suppliers and construction teams will rece
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    he respecting of the terms stipulated in the contract. Sometimes owners are also required to provide payment bonds to ensure that the suppliers and construction teams will receive their payment in time.

    According to a series of recent studies, the construction industry in the US is a 445 billion dollar business that includes around a million contractors, up to 70 national contractor agencies and associations, and more than 7 million workers. Elaborate market investigations recently conducted in the US have revealed that over 60,000 contractors in the construction industry failed to respect their agreements over the last 10 years, canceling public and private sector construction projects worth more than 18 billion dollars. In order to prevent major financial losses and an entire succession of undesirable results, increasingly larger numbers of companies nowadays cons

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