Page 18 - Louisiana 811 Magazine 2018 Issue 4

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tyon are going to he biddlng on a Contractor has succzaiiully completed it fmquently; yuu mual have done
"public lab” 7 whete the uwnzr is smaller banded pmjeds, $500,000 projects of this type and slzz
a city, county alaie, etc 7 you know or lesa, the company will luck mote succesafully hetote 7 and pnwe it; you
they will he requlung a bond In fnvnrably on his $lmil npplicntiun must have assels 7 preferably llquld, in

the amount ot the jub. Thisprotzcts the Unlzas you have a vioiblz track record, Excess ot the band amount. Because, IF

entity from having to re-bld the jab m at wun'I happen. the bond is defaulted, you are golng to

case the winner figurza out he did the . . u ,, have to tetmhnn.-e the band company

math all wtong, and walks off the job wt" “IP19? _“°" (“'2 M": ‘_’}‘f bf?‘ ‘ ’ tot the full amuunl they have had to

about halfway through. "that bond has ‘” '9“ Y " 1”” 3 ""“Y °:‘ ,f’‘’’ E ,, expend un your behali— and yuu have

to expand to whatevet changes ate pul ;‘l“‘ f.}‘“_j;‘1“‘1:.‘§‘‘;1’ '5 b““‘“‘:‘;’‘“' In have It to be able to repay it, right?

through 50, abond iDr$1 milliun can b “C: STA“; :1 ' ' _ff°““ E‘ m‘ OR have someone no-aign who can

Easlly become a bond tot $2 milllnn. W”; ‘H m; fl::;“¥ul :nd h}elp pa)‘/(Bil. Bend: the fully Ihlng

. ‘_ . ” ” _ I ntma sllpossl e or tontmclnrs to

‘M’ If3;;1;§§;jE:*$:;di‘;f'jh§j§:°"* grow no the larger (more profitable)

Yes, in really bad when thnlmlllion Rmiumis mm Chg’! Ed “mm ,oh..-

dullnrbund expands in $2 mil, then ‘_’ _ ’ 5‘ ‘ . ._

wmflhmg gm haywm and the succzaaiul, nu ham}, no tool 7 there Is lnanmnce ls elmetent altogether. Yuu

The ""““ ‘°"‘1’““Y‘° '“*"P°“"“"°‘°‘l“ nel hlifothooayotéfi or the ubgnce if lo.-.-ttotxgtetotnado etc in ment

entity tot the completion of the plcrjetl. ,, 5 " ,, 1 P . ” ' ‘ ' ' P V
all syslemaoptlmnl If a cuntlatlol la Ls‘ not zzqulred. Yuu wreck yuurcal,
treat The band company has to now . _ _ .
. new 7 wtth mayhe one ur two amaller mnnanee paya for ll. Your rate: wall
hue anothez contractor to complete b d d b_ E m0 000 _ Lh ,
._ . _ , _ on e ]u .50 $ , orao, e pmhahly goup,hutyon donlzzpay
th... pm,ect n~ pmmlazd. 1.. thete b . . .
onol company 7 IF they ate willing to anything

“V ‘”""‘.d’“ Why ‘1“ b°““ °“'“P““Y some a bond at all 7 will charge mum .

—uLh2rw|se known as the aumty 7 Tm mi hum N “in mum”! The only Lhulgs lnsumnce and surety
thoroughly Examlnes all appllcnnls for Y 5 * “ hnveincommunisthnllhe ate

(zvznnmungngz on yuurhousel) or Y
honel.-7 rh _ . cunlracts,thzychazgeaprzmlum
pe up: an Irrevocable Letter of cteoht
. . . . . . and they respnnd liaumethlngbad
who Is why It is almost lmpomhle fur 7 payable to the band company In Case h .
appen.-. That mlghl ..-onncl like the
a new tontmclnr to get banded for a of eletnult . .
$1mfl.obfi hmulmhe M “W same tlungbul, tlualme, Ills not. W
1 5 5 ' Your credit must he almost petteet
,5 . Loulslarlu an 2013 Issue 4 and “-2 band mmvany will check