Seguros y GravámenesPregunta 1561 de 1605
Which best describes the difference between the payment bond and the performance bond on the SAME project?
a.The payment bond guarantees the schedule
b.The payment bond protects subs/suppliers from nonpayment; the performance bond protects the owner from noncompletion
c.Both guarantee the same thing
d.The performance bond pays subcontractors
Explicación
On a single project, the payment bond guarantees that subcontractors and suppliers get paid, while the performance bond guarantees that the contractor completes the work per the contract. They protect different beneficiaries against different risks.
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Revisado por Abraham Chen — Licensed California General Contractor (CSLB License #1101856 — verificar)