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Bonded???

Discussion in 'Lawn Mowing' started by MikeGA, Mar 4, 2001.

  1. MikeGA

    MikeGA LawnSite Member
    Posts: 101

    Just let me show my ignorance..... What is "bonded", where do you go to get bonded, and what does it cost? I have some ideas floating around, but i'm not sure if they are correct.
     
  2. Forever Green Lawn

    Forever Green Lawn LawnSite Senior Member
    Posts: 280

    A surety bonds comes from your insurance company. Different areas require different size bonds. Here in NW Indiana (Lake County), a $5000.00 bond is required and it is recorded by the county at the county recorder's office. My bond cost $75.00 each year. Hope this helps!

    Scott
     
  3. MJ

    MJ LawnSite Senior Member
    Posts: 312

    A bond is an assurance to the customer that you are going to deliver as promised, or it can be used to ensure against loss of personal property of the customer (usually for worker who go into homes etc). Sometimes called "performance bond". Sometimes property managers will require a bond to bid on thier job. You could probably get a bond at the same place as your insurance. I wouldn't think you'd want to get a bond unless it was required.

    Mick
     
  4. MJ

    MJ LawnSite Senior Member
    Posts: 312

    MikeGA - Forever Green Lawn probably has more experience with bonds than I. He might help you in specific circumstances where you need a bond. I'm not really sure what you're wanting it for. Unfortunately, we were posting at the same time.

    Mick

    [Edited by MJ on 03-05-2001 at 01:15 AM]
     
  5. MikeGA

    MikeGA LawnSite Member
    Posts: 101

    I was just curious, I have heard of being bonded and insured and Licensed, and I had them all figured out except the bonded, The only places I have ever seen I would have to be bonded on was bidding on County projects. And bonded was showing up with the lawn care business, i did a search on bonded, but all everyone was saying was they were either bonded or had to be bonded to bid on a job and I was wondering what all that was about.
     

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