Know Surety

Warranty Bond- A warranty bond (also known as a maintenance bond) guarantees for the owner of the project, that the contractor will solve all warranty issues during the specified warranty period, which is usually 1 year from completion/acceptance of the project. The warranty period could be longer depending on the terms of the contract. If contractor is unable to solve the warranty issue or is not in business during the specified warranty period, the warranty bond provides the owner of the project with a remedy through the surety to fix the warranty issues.