Shopping on line can be easy, simple and save you lots of money. It can also take a lot of your time, frustrate you, and result in unwanted purchases. Now the same can be said for regular high street shopping, but with the vast opportunity presented by the Internet it will pay you to spend a few minutes reading this and understanding how to better optimize your Performance Bond shopping experience:
1. Compare - without doubt the biggest advantage that the Performance Bond offers shoppers today is the ability to compare thousands of Performance Bond at a time. This is a great thing, but not necessarily all the time! Too much can be daunting at times so take advantage of the great comparison sites and where possible let them do the hard work for you.
2. Research - if it has been said it will be on the internet. Ignorance is no longer a justifiable reason for buying the wrong thing. Take the time to research in detail everything that you could possible want to know about
3. Testimonials - don't know anybody that has bought a Performance Bond? Wrong! If the Performance Bond is good the internet will let you know. Use the Internet as a friend and get testimonials before you buy.
4. Questions - Got a question about Performance Bond then search the Forums, FAQ's, Blogs etc. Don't be afraid to ask .....
5. Reputation - Never heard of the company selling Performance Bond? Don't worry, no reason why you should know every company in the world, but you know someone that does! Use the internet to find out what people are saying about Performance Bond and build up a picture of their reputation for sales, returns, customer service, delivery etc.
6. Returns - still worried that even after all of the above your Performance Bond wont be what you want? Check out the returns policy. There is so much competition now that someone, somewhere is bound to offer the terms that you are comfortable with.
7. Feedback - happy with your Performance Bond then let people know, after all you are depending on others people input in your buying decision, so why not give a little back.
8. Security - check for the yellow padlock on the Performance Bond site before you buy, and the s after http:/ /i.e. https:// = a secure site
9. Contact - got a question about Performance Bond, or want to leave a comment then check out the sites contact page. Reputable companies have them and respond.
10. Payment - ready to pay for your Performance Bond, then use your credit card or PayPal! Be aware of companies that don't accept them, there may be genuine reasons but given the huge amount of choice you have when buying online there is no reason at all not to buy via credit card or PayPal.
A
performance bond is a
surety bond issued by an insurance company to guarantee satisfactory completion of a project by a independent contractor.
For example, a contractor may cause a performance bond to be issued in favor of a client for whom the contractor is constructing a building. If the contractor fails to construct the building according to the specifications laid out by the
contract (most often due to the
bankruptcy of the contractor), the client is guaranteed compensation for any monetary loss up to the amount of the performance bond.
Performance bonds are commonly used in the development of real property, where an owner or investor may require the developer to assure that contractors or project managers procure such bonds in order to guarantee that the value of the work will not be lost in the case of an unfortunate event (such as insolvency of the contractor).
The term is also used to denote a collateral deposit intended to secure a
Futures contract, commonly known as Margin (finance).
Performance bonds have been around since 2,750 BC and, more recently, the Romans developed laws of surety around 150 AD, the principles of which still exist.
See also
- Surety bond
- Subcontractor
- Independent contractor
- Submittals (construction)
- Shop drawing
External links
- Surety Information Office - An association dedicated to suretyship in the United States
- Performance Bonds, How Times Change - An article addressing the past and present of the surety bond market for performance bonds.
- National Association of Surety Bond Producers - A surety bond producer/agent asssociation.
A
performance bond is a surety bond issued by an
insurance company to guarantee satisfactory completion of a project by a
independent contractor.
For example, a contractor may cause a performance bond to be issued in favor of a client for whom the contractor is constructing a building. If the contractor fails to construct the building according to the specifications laid out by the contract (most often due to the bankruptcy of the contractor), the client is guaranteed compensation for any monetary loss up to the amount of the performance bond.
Performance bonds are commonly used in the development of real property, where an owner or investor may require the developer to assure that contractors or project managers procure such bonds in order to guarantee that the value of the work will not be lost in the case of an unfortunate event (such as insolvency of the contractor).
The term is also used to denote a collateral deposit intended to secure a Futures contract, commonly known as
Margin (finance).
Performance bonds have been around since 2,750 BC and, more recently, the Romans developed laws of surety around 150 AD, the principles of which still exist.
See also
External links
- Surety Information Office - An association dedicated to suretyship in the United States
- Performance Bonds, How Times Change - An article addressing the past and present of the surety bond market for performance bonds.
- National Association of Surety Bond Producers - A surety bond producer/agent asssociation.
