Event Categories:REI Oklahoma REI Minority Business Center REI Women's Business CenterREI 7(j) Management & Technical Assistance Program

Event Details

The Role of Bonding in Securing Contracts

REI OKC Conference Center
318 NW 13th
Oklahoma City, OK
73103
Map and Directions

Date/Time:
March 27th, 2024
Start Time: 10:00 am
End Time: 11:30 am

Bonds provide financial security and assurance by assuring project owners that contractors will perform the work and pay specified subcontractors, laborers and other suppliers.

A surety bond is a risk transfer mechanism where the surety company assures the project owner that the contractor will perform a contract following the contract documents.

This session will cover the different types of bonds and how they are used.

  • How bonds work;
  • Why contractors need a bond;
  • Public vs. Private projects;
  • There are three basic types of bonds: Performance, Payment, Bid;
  • Other types of bonds;
  • Securing a bond;
  • Risk assessment;
  • Claims against a bond.

 

*This is an in-person workshop.

 

Price: $0.00

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