Secrets of Bonding 155: The Double Bonding Conundrum

This is America. Everyone is entitled to their opinion. But on the subject of Double Bonding (Contract Surety) we will not all agree.

So here are the facts. You will decide if this is a great idea or just a waste.

What is Double Bonding?

Also called “back bonding,” an example would be when both a subcontract and a prime (directly with the project owner) construction contract are bonded. The prime contractor is the General Contractor (GC).

The GC gives some of the work to trade contractors such as the plumbing, electrical and HVAC. These firms may be required to give a subcontract bond to the GC guaranteeing their work. In turn, the GC provides a bond that covers everything. In other words, it too covers the plumbing, electrical and HVAC. That’s the “double” part. Sounds pretty dopey so far, right? Why would anybody do that?

Turns out this occurs often. Depending on your viewpoint, it may seem helpful / essential, or just a waste of money. Let’s evaluate it and you decide.

Why Love It:

With double bonding in place, material suppliers to the sub may offer better prices, since they will now be covered under a payment bond.

Subs that have been approved by a surety may perform better, which benefits the owner.

Third tier subs and suppliers may not be protected by a payment bond unless double bonding is in place. The GC’s bond may not go down to the third tier (sub of a sub.)

Many GCs have a policy to automatically bond subs over a certain dollar value. This is intended to assure delays and unpaid bills are avoided.

Subcontractors with a surety may have an advantage when pursuing new work. These are important credentials that prove they have passed the underwriters scrutiny and have the backing of a professional guarantor.

The surety may find it easier to support the GC bond if major subs are bonded.

Obtaining the GC bond may be a mandatory requirement of the contract. However, the sub bonds, though not required under the prime contract, do directly benefit the GC. The GC / prime contractor is the beneficiary, and the potential claimant of such bonds.

The most important reason: It is possible that the GC’s surety may insist that major subs be bonded as a condition of supporting the GC. This can be the key to acquiring the contract.

Why Hate It:

The owner doesn’t need sub bonds because the GC’s bond already covers all the work.

The owner may also be forced to bear the related costs if the sub bonds were anticipated. If they were not, the charges may come out of the GC’s profits.

In a competitive situation, the related costs could cause the GC to lose the project.

Sub bonds may help GC with their surety, but they do not reduce the cost or dollar value of the GC’s bond.

Bonus Conundrum

Love it or hate it, double bonding is sometimes done voluntarily, or it may be stipulated by the GC’s surety. There is no denying that the concept is important – so important that in some cases both the GC bond and the sub bonds are written by the same surety. Why would they do that?!

Trade Shows and Inflatable Furniture Advertising

Visual advertising is one of the most amazing ways you can apply to expose and enhance the business sales. So many tools can be used to get the attention of clients today. Your brand can be represented well when such methods are applied. These are marketing tools that are very powerful and can turn your business around if you know exactly how they can be utilized. There is nothing more liberating in business than being able to meet all your marketing goals with results.

Trade shows displays

Technology gets better and better every day. As we all know, trade shows are an amazing place to meet business owners and many potential clients who may be out of ideas. As such, if you are to advertise your business, then you should ensure that your trade fair displays are well thought out and set up in a way that they can be viewed with ease even at a reasonable distance.

With technology at hand, some of the service provider’s loose touch with the basics of trade shows displays. However, a good company that only hires experts will be able to create a trade show display that will captivate your audience. The messages, images, and display in a trade show need to be simple and the layouts should be very clean too.

There are elements that every trade show display should have. Each element needs to be used in a way that allows it to be very effective. The elements include the website, company logo, and name, description, headline and visual. When all these are thought about carefully, you should be able to come up with the best results. The graphics need to be selected carefully to give the desired effect. Using ornate, confusing and mysterious graphics can distract rather than attract. Single images should be used to create the curiosity and attention of your audience.

Inflatable furniture

Another amazing mode of advertising that companies and other businesses use is the inflatables. You can carry out the full-fledged kind of advertising using inflatable advertising products such as inflatable furniture.

Inflatable advertising is revolutionizing every day and it is certainly a new era marketing concept. Today, the large brands, as well as upcoming businesses, are quickly embracing this method of advertising to increase the visibility and strengthen the image of the brand. This kind of advertising offers custom-made kinds of inflatable products such as furniture and it has its benefits.

Businesses have a chance of choosing the giant options or the custom ones that are tailored to meet their particular needs. You can choose a great assortment of the best inflatables and you can have them in any size that you want. Inflatable furniture can be used for indoor purposes, although there are still some inflatables that are ideal for the outdoor areas. Many products can be used to convey the message to potential clients.

What you will notice is that inflatables are customized according to the laid out specifications. Inflatable furniture has turned out to be one of the most compelling ways of promoting a brand with great ease.

Using Retractable Banners and Inflatables for Advertising

Advertising is a great way to reach out to potential customers as well as the one that you already have to keep using your brand. There are so many methods of advertising that are being used today all aiming for the same goal: increasing revenue. You need to hire a good advertising company to offer you specialized and customized methods. A good company will help straighten out your priorities as much as they can.

Retractable banners

When you use a retractable banner stand, there are some advantages that you will enjoy over the conventional types of banner stands. It is quick to set it up, easy to use and very portable. The graphic is self-contained and uses a cartridge that is spring loaded. The graphic is well protected and the operation is hassle-free. There are so many options available for all sorts of budgets. This means that you can use it regardless of how limited your budget is.

When you decide to use a retractable banner, you will have more foot traffic to the business and you may get more attention at the trade shows. The banners create a very professional look and they are a way of projecting a marketing message even when you are taking part in a very busy event. A retractable banner grabs the interest of the products. Retractable banners are easy to assemble, portable, durable and use bright graphics for effects.

You can set up the retractable banner in a very easy way. You will not need any multiple tools to complete the setup. The banner attaches very securely to the frame and it can be pulled and then locked in place. The banners are compact and sturdy.

Inflatable advertising

Inflatable advertising is changing the marketing concept and so many brands are using it today. You can increase visibility and strengthen your brand with this kind of advertising. There is a wide range of products that you can utilize.

There is an expansive collection of inflatables today. They can be customized according to the requirements of your business. Usually, they are easy to use, durable and custom made. These are used to get the attention of the brand and the visibility of your company.

Inflatables can be customized according to specifications. If you have a product, you can have an inflatable created according to your own specifications.

This is a marketing method that is quite effective and it saves time. It is affordable and can be accessed quite easily. The balloon inflatables are widely used today, as they are compelling and can promote services and products very well. Inflatables are hassle-free and can be maintained easily. Transportation is also very convenient.

The custom inflatables can garner the attention of your brand and increase your recognition. You can make specific requirements. If you want great success in business, then you have to go for the best advertising method. There is no way people will ask for your services or buy your products unless they get to hear and know more about them. Having a good advertising method is the best way of gaining the attention of your audience.