Contract Securitization: Surety Bond Criticalities

This Skill Bit shows that Surety bonds are financial instruments used to secure contracts. While they offer valuable risk management benefits, they also come with certain downsides, such as financial strain, qualification hurdles, and complex claim processes. Understanding these potential pitfalls can help both contractors and project owners make informed decisions about whether or not to use surety bonds in their contracts.

Duration approx. 4 Min.

Tier: proficiency

A part of Building an Effective Procurement Management Plan course.