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Old 03-20-2009, 02:41 PM
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GriffinLawnService GriffinLawnService is offline
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Bonded

I was just wondering who all is bonded an how you go about getting bonded. I have insurance and an LLC license. Is this something that I should consider doing or what does everyone think.
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Old 03-20-2009, 03:20 PM
lilweeds lilweeds is offline
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Bonds are usually required when doing government jobs. Basically you pay a fee to guarantee that you will show up and do the contracted work. If you do that work your bond money gets returned. Not needed for most other jobs.
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Old 03-20-2009, 04:13 PM
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grasschopperofchicago grasschopperofchicago is offline
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Bonding has not been an issue for me and it is what the guy above stated, it is actually a Surety Bond, that as he stated means you will show, and it is based on a criminal background check and your credit history, the better the credit, the better cost of the bond, some banks do require it as well, but not many I have run across...a lot of people I imagine just put it on their card for homeowners peace of mind...don't know if that is against law or not...however, I don't think you will find many people asking for you to provide evidence of such, insurance I actually pass out to all my customers, and give them a copy of my certificate of insurance...(family owns the insurance company), I do this because that in FACT gives them peace of mind!---and when someone comes to underbid me (talking residential) the first question out of the customers mouth is, how much liability insurance do you have??...It's all about professionalism and quality, educate your customer and they won't stray!!
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Old 03-20-2009, 04:48 PM
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Bonding is really past its time.....there are times when you need them like when a Performance Bond is required for a project. But for everyday operations, your GL is what you need.
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Old 03-21-2009, 09:33 AM
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bohiaa bohiaa is offline
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there's all sorts of BONDS, we have one, simply for employee thief, it really opens up eyes, when u tell the customer were bonded,
Most people dont know what it means. But they know it's a good thing.
your insurance can write "sell" you a bond. there CHEAP CHEAP CHEAP.
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Old 03-21-2009, 02:56 PM
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GriffinLawnService GriffinLawnService is offline
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Thanks for all your help guys. I am glad that you cleared that up for me.
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