{"id":970,"date":"2023-06-29T16:25:15","date_gmt":"2023-06-29T20:25:15","guid":{"rendered":"https:\/\/parrotsuretyservices.com\/bonds\/payment-bond\/"},"modified":"2023-07-07T12:20:46","modified_gmt":"2023-07-07T16:20:46","slug":"payment-bond","status":"publish","type":"page","link":"https:\/\/parrotsuretyservices.com\/bonds\/payment-bond\/","title":{"rendered":"Payment Bond"},"content":{"rendered":"<h1>Payment Bond<\/h1>\n<p><img decoding=\"async\" src=\"\/wp-content\/uploads\/2023\/07\/payment-bond-scaled.jpeg\" alt=\"\"><\/p>\n<h2>What is a Payment Bond?<\/h2>\n<div>\n<p>A Payment Bond is a type of Contract bond that ensures that subcontractors and suppliers are paid for their services.<\/p>\n<\/div>\n<p>\n    <a href=\"#apply\">Apply Now<\/a>\n<\/p>\n<ul>\n<li>\n<p>Purpose<\/p>\n<div>\n<p>Protects the project owner from potential liens and financial loss if the contractor fails to pay subcontractors and suppliers.\u00a0<\/p>\n<\/div>\n<\/li>\n<li>\n<p>Why You Need It<\/p>\n<div>\n<p>To secure the payment chain and prevent disputes over unpaid work.\u00a0<\/p>\n<\/div>\n<\/li>\n<li>\n<p>Required Infromation<\/p>\n<div>\n<p>Contractor&#8217;s financial and credit history, project details, and contract amount.\u00a0<\/p>\n<\/div>\n<\/li>\n<li>\n<p>Bond Cost<\/p>\n<div>\n<p>Often combined with performance bonds, the cost is typically 1-3% of the contract amount, depending on the contractor&#8217;s creditworthiness and project size.\u00a0<\/p>\n<\/div>\n<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"\/wp-content\/uploads\/background-square-02.png\" alt=\"\"><br \/>\n<img decoding=\"async\" src=\"\/wp-content\/uploads\/background-square-04.png\" alt=\"\"><br \/>\n<img decoding=\"async\" src=\"\/wp-content\/uploads\/background-square-05.png\" alt=\"\"><\/p>\n<div>\n<h3>Get A Payment Bond\u00a0<\/h3>\n<div>\n<p>Fill out our short form and an agent will be right with you to get you set up with your Payment Bond!<\/p>\n<\/div>\n<\/div>\n<div>\n<p>    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A Payment Bond is a type of Contract bond that ensures that subcontractors and suppliers are paid for their services. Apply Now Purpose Protects the project owner from potential liens and financial loss if the contractor fails to pay subcontractors and suppliers.\u00a0 Why You Need It To secure [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":118,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"content-type":"","footnotes":""},"_links":{"self":[{"href":"https:\/\/parrotsuretyservices.com\/wp-json\/wp\/v2\/pages\/970"}],"collection":[{"href":"https:\/\/parrotsuretyservices.com\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/parrotsuretyservices.com\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/parrotsuretyservices.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/parrotsuretyservices.com\/wp-json\/wp\/v2\/comments?post=970"}],"version-history":[{"count":2,"href":"https:\/\/parrotsuretyservices.com\/wp-json\/wp\/v2\/pages\/970\/revisions"}],"predecessor-version":[{"id":1489,"href":"https:\/\/parrotsuretyservices.com\/wp-json\/wp\/v2\/pages\/970\/revisions\/1489"}],"up":[{"embeddable":true,"href":"https:\/\/parrotsuretyservices.com\/wp-json\/wp\/v2\/pages\/118"}],"wp:attachment":[{"href":"https:\/\/parrotsuretyservices.com\/wp-json\/wp\/v2\/media?parent=970"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}