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Be Careful in your Bond Agreements

Below is a good article on a bid bond and how your bonds can be called into question by related deals.  Specifically, it is all about a side agreement that allows for the pooling of resources.  This arrangement is not a bad one, but one of the keys is that the bonded contractor was going to allow the other contractor to utilize their bond in order to perform the work.  That’s not necessarily wrong, but you do need to be sure that it doesn’t violate the underlying job documents.

http://stcroixsource.com/content/news/local-news/2016/11/14/main-street-project-halted-due-invalid-subcontractor-agreement