No, not quite!   Instead, I’ve been looking at the difference between different types of performance bond options.   I was really never aware how they worked.

I figured that by not having a claim you’d be able to get a bond at a good rate.   It’s quite the contrary when it comes to bonds.   In essence, bonds are designed to have claims.   That’s how a bonds company would actually make revenue!

I also always thought that you had to pay the full amount of the bond in order to be insured.   That’s not the case either.   In fact, many times you just pay a certain annual percentage of the bond amount.

The last thing that I thought was a lot different was that bonds were inexpensive.   That is probably not the case any more.   Years ago the underwriting used to be a lot different and bonds used to be easier to get approved.   Now it takes a lot of work and even more paper pushing.

I was glad to get some good info on the Surety Bond Blog!   Never know when I might been to look to the future and purchase some bonds!