Just started a construction company. I did mostly sub-contract work for the past 4 years and under the you know what! Now I'm going full time in July. I'm in PA and I have already got insurance, 1 million, estimate now I want to learn more. What's bonded mean when you say you’re insured and bonded?

Albindon001

A bond is a gaurantee by a third party that you will do the work prescribed by the specs of that job. It basically protects the owner, that you, the contractor will finsih the job. For example if you have three jobs going at the same time and and two of the jobs go bad, putting you in financial ruin, well its not the owners fault that you cant finish his job in which you have a contract with. When this happens the bonding company steps in and provides the funding to finish the job.