Bonded???

[ClipKing]

Hello all,

Just curious(and perhaps a stupid question) but what does it mean to be bonded? I see some companies advertise that they are "Licensed, Insured, and Bonded" Also, what are the costs associated with being Bonded? Any help is appreciated.

[Phil Nilsson]

Here's a example ...

http://www.asu.edu/aad/manuals/pur/pur501-03.html

[ClipKing]

thanks phil,

but after reading the link, i understand a bit more, but lets just say the water is still muddy! any simpler explanation? furthermore, any reason to be bonded if not even big enough to perform large task operations (commercial jobs)? thanks again.

[Phil Nilsson]

more on bonding ...

http://www.mi.gov/emi/0,1303,7-102-115_18416-21154--,00.html