SURETY BONDS FOR GENERAL SERVICES

by Sam Jones)

Surprisingly, in the face of our economic downturn, the number of start-up companies and services is on the rise. As people find themselves out of work or on the verge of unemployment, they are looking to themselves for financial security. “How can I do much worse?” one might think. People are more willing to take a risk, fulfill a dream, and start their own business. Additionally, folks are taking non-traditional jobs. Working as an independent contractor performing tasks or services, up till now, untried. Many people are finding that today, like never before, they need to be creative in their job searches, career path changes, and in exploring business opportunities. Interestingly, these services often carry the obligation to acquire a surety bond when performing certain general services. Bonds are insurance, in part, should you come under scrutiny from a client. Some dissatisfaction or complaint could result in a law suit. A generalbond service will cover these claims. The upside to having a surety bond is that customers are attracted to bonded service providers. Service related fields are an interesting entrepreneurial direction many suddenly unemployed or those weary of the disquiet are taking. Typically, investment is low and often first customers come from family, friends, and past business associates. People usually already have the skills for the trade. These enterprises are often jobs people are already doing in some aspect or paying for others to do. The service may be part of a current job or a satellite service. Services like janitorial companies whether commercial or residential require providers to be bonded. Are you aware that magazine solicitors need to be bonded? Sign hangers need to be bonded and have license bonds under most city ordinances. The bond guarantees that the holder will pay any fines for violations, and hold the City harmless from damages. If you erect, alter, extend, repair, or maintain signs, you need to be bonded. Who knew? Telemarketers need to be bonded before getting any phone solicitors license. Not surprisingly, private investigators need to be bonded.