FLU Tip Jan Mid-Month 2024

“Warranty bonds, commonly known as maintenance bonds, covers workmanship warranties and specifically excludes coverage for warranties provided by the contractor’s suppliers and manufacturers which are transferred directly to the owner when the project is completed. Typically, first year warranties are included in the bond premium, and any additional years can increase the overall cost.”
– Surety Place FRONT LINE UNDERWRITER (FLU) Tip of the Month