Insurance and Surety Bonds in Contract Risk Management

Description

This Skill Bit covers essential bond types—performance, bid, payment, and maintenance bonds—that ensure contract performance, financial security, and post-construction quality, safeguarding all parties involved in contractual agreements. Learn how to utilize insurance for effective risk transfer and mitigation while aligning it with contractual obligations for comprehensive protection. Additionally, explore the roles and impacts of performance and payment bonds in contracts and understand how surety bond requirements influence contractual relationships and ensure compliance.

Duration approx. 4 Min.

Tier: advanced