Getting approved for a $1 million performance bond requires more than simply having strong revenue. Sureties may evaluate a contractor's character, capacity, capital, financial statements, working capital, project experience, backlog, management team, credit, and the specific construction project. Learn what contractors can do to prepare for larger bonding requests, strengthen their financial profile, improve bonding capacity, and work with a surety professional before biddin

Who pays when a surety bond claim is filed? Learn how the surety bond claims process works, who pays a valid claim, and why the bonded business may ultimately be responsible for reimbursing the surety. This guide explains the roles of the principal, obligee, and surety, how claims are investigated, how indemnity agreements work, and how businesses can reduce the risk of claims while protecting their licensing and bonding relationships.