Bonding Solutions - Payment Bonds
Payment Bonds are generally used on construction projects in conjunction with a Performance Bond, but can also be obtained as a stand-alone bond. The Payment Bond guarantees that all suppliers, subcontractors, and laborers used on a specific contract will be paid by the contractor and that the project owner will not have a lien placed on the project. Some non-construction projects require payment bonds as well. https://bondingsolutions.com/payment-bond/
