What Categories of Building Projects Call for the Purchase of Performance Bonds?
While performance bonds are often demanded for public works projects on all levels of government (municipal, provincial, and federal), private property owners are also permitted to make such a request. They are not accessible to the general public for use in residential remodeling projects. When a contractor's bid is selected as the winning one for a task, the contractor is often required to provide a performance bond before the project can get underway.