Dredging Contract Bond
What is a Dredging Contract Bond?
A Dredging Contract Bond is a type of Specialty Contractor bond that ensures that contractors who undertake dredging projects comply with contract terms, federal, state, and local regulations, protecting clients and the environment from any damages or improper execution of the project.
Protects clients and the environment from financial loss due to the misconduct or negligence of dredging contractors, ensuring the proper completion of dredging projects.
Required by government agencies or private clients to ensure responsible management and compliance with contract terms, as well as environmental and safety regulations by dredging contractors.
Applicant’s personal or business information, credit history, bond amount (determined by the contract requirements), and dredging contract details.
Based on credit history and bond amount, usually 1-5% of the bond amount.
