Home / News / Myths vs. Facts: Payment Bond Mythbusters
THERE ARE ALL sorts of rules and concepts that sureties, contractors, and bond producers just know to be true about payment bonds and that have become imbedded as immutable rules. As it turns out, many of the supposed hard-and-fast rules have exceptions and subtleties. In these cases, the rules are not rules at all—but simply myths. Exposing these payment bond myths leads to a better collective understanding of when our understanding of the rules needs to be modified to account for exceptions and when the rules may be flatly wrong and need to be busted once and for all.
