Latest / Architect Exam Podcast
002 - Construction Bonds: Types, Costs, and How They Work
Construction bonds explained simply. This episode breaks down what construction bonds are, how surety bonds differ from insurance, and the types of bonds used on building projects.
Many people confuse construction bonds with insurance, but they work in completely different ways. We start with a bail bond analogy to build a foundation, then walk through each bond type including bid bonds, performance bonds, payment bonds, maintenance bonds, subdivision bonds, and license bonds.
You'll learn the three-party relationship between the principal, surety, and obligee, when bonds are required on…
The skinny
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