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Maintenance Bond (Construction)

A Maintenance Bond (Construction) is a guarantee that the contractor will maintain the completed project for a specified time period as outlined in the contract.

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Service Description

A Maintenance Bond (Construction) is a type of surety bond that guarantees the quality of workmanship and materials used by a contractor on a construction project for a specified period of time after completion. This bond ensures that any defects or issues that arise during the maintenance period will be corrected by the contractor, at no additional cost to the project owner. The maintenance period typically ranges from one to two years, but can be longer depending on the agreement between the parties involved. In the event that the contractor fails to fulfill their obligations under the bond, the project owner can make a claim against the bond to recover any financial damages incurred.

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