Ask Question
EngineeringEngineering
12 May, 17:29

What type of bond guarantees that if a contractor goes bankrupt on a project the surety will pay the necessary amount to complete the job

+2
Answers (1)
  1. 12 May, 17:50
    0
    Answer: Payment bond.

    Explanation:

    A payment bond is a type of guaranteed payment provided for a contractor which ensure that all subcontractors, suppliers, workers etc involved in a project will be duly paid. Payment bond usually comes along with performance bond especially in the construction industry, and it is obtained before the commencement of a construction project. This serves as a form of protection for subcontractors.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “What type of bond guarantees that if a contractor goes bankrupt on a project the surety will pay the necessary amount to complete the job ...” in 📗 Engineering if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
An infinite conducting cylindrical shell has radius 0.35 m and surface charge density 1.6 μC/m2. What is the magnitude of the electric field, in newtons per coulomb, 1.3 m from the axis of the cylinder?
Answers (1)
Question 2 The ratio of lateral strain to the linear strain within elastic limit is known as Oa. Young's modulus O b. bulk modulus O c. modulus of rigidity O d. modulus of elasticity Oe. Poisson's ratio
Answers (1)
Student A pipettes 10 ml of water three times and gets the values, 10.11 ml, 10.04 ml and 9.97 ml. Student B repeats the experiment using the same pipette and delivers volumes of 9.45, 10.11 ml and 9.50 ml.
Answers (1)
Why doping process is required in semiconductors material?
Answers (1)
Measures the power output of the machine
Answers (1)
New Questions in Engineering
There are six items to be rung up in the cash register. The first item costs $15.00. Each item after that costs an additional $2.00. (item #2 costs $17, item #3 costs $19, etc.
Answers (1)
List and briefly describe two modern's materials needs
Answers (1)
Write the definition of a method named add that receives a reference to a Scanner object associated with a stream of input consisting of integers only. The method reads all the integers remaining to be read from the stream and returns their sum.
Answers (1)
How are fluids distributed and transported in a fluid power system?
Answers (1)
The sliders A and B are connected by a light rigid bar of length l = 20 in. and move with negligible friction in the slots, both of which lie in a horizontal plane. For the position where xA = 16 in., the velocity of A is vA = 3 ft/sec to the right.
Answers (1)
Home » Engineering » What type of bond guarantees that if a contractor goes bankrupt on a project the surety will pay the necessary amount to complete the job
Sign Up Forgot Password?