{"id":22,"date":"2005-10-12T18:02:58","date_gmt":"2005-10-12T18:02:58","guid":{"rendered":"http:\/\/www.bfbond.com\/blog\/?p=50"},"modified":"2013-11-21T14:18:22","modified_gmt":"2013-11-21T19:18:22","slug":"bidperformance-bonds","status":"publish","type":"post","link":"https:\/\/bfbond.com\/blog\/bidperformance-bonds\/","title":{"rendered":"Bid\/Performance Bonds"},"content":{"rendered":"<p><a href=\"http:\/\/www.bfbond.com\/?bondType=Performance\">Bid and Performance Bonds<\/a><\/p>\n<p>Question: What is contractor\u2019s financial resources?<br \/>\n1. Obtain a full financial,personal and business. See that it is dated.<br \/>\n2. Verify statement with the bank, see if the average bank balance<br \/>\nover a period of six months or a year approximates that shown<br \/>\nin the statement. If it varies greatly, why?<br \/>\n3. Stocks and bonds should be listed and described specifically, so<br \/>\ntheir value can be ascertained from market quotations.<br \/>\n(a) Any unlistedsecurities should be given special treatment, so<br \/>\nthat the underwriter will be able to give them full value in<br \/>\nestimating the contractor\u2019s true net worth.<br \/>\n(b)If any security is pledge as collateral, this fact must be noted<br \/>\nin the underwriting memorandum accompanying the<br \/>\nstatement.<br \/>\n4. List each account receivable seperately. The name of the debtor<br \/>\nshould be given and the date when it is due or in the event it is<br \/>\noverdue, the date it is expected to be paid. Any receivable that is<br \/>\nwithheld until completion of work, or during a maintenance<br \/>\nperiod, should be noted, giving the dates that the money\u2019s are to<br \/>\nbe released to the contractor.<br \/>\n5.The inventory should be divided into two classes:<br \/>\n(a) That part of the inventory that can be used in the contract<br \/>\nunder consideration. This is a quick asset.<br \/>\n(b) All other material that does not have a ready market should be considered as a fixed ( or slow ) asset<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bid and Performance Bonds Question: What is contractor\u2019s financial resources? 1. Obtain a full financial,personal and business. See that it is dated. 2. Verify statement with the bank, see if the average bank balance over a period of six months or a year approximates that shown in the statement. If it varies greatly, why? 3. &hellip; <a href=\"https:\/\/bfbond.com\/blog\/bidperformance-bonds\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Bid\/Performance Bonds<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[10],"tags":[],"_links":{"self":[{"href":"https:\/\/bfbond.com\/blog\/wp-json\/wp\/v2\/posts\/22"}],"collection":[{"href":"https:\/\/bfbond.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bfbond.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bfbond.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bfbond.com\/blog\/wp-json\/wp\/v2\/comments?post=22"}],"version-history":[{"count":2,"href":"https:\/\/bfbond.com\/blog\/wp-json\/wp\/v2\/posts\/22\/revisions"}],"predecessor-version":[{"id":163,"href":"https:\/\/bfbond.com\/blog\/wp-json\/wp\/v2\/posts\/22\/revisions\/163"}],"wp:attachment":[{"href":"https:\/\/bfbond.com\/blog\/wp-json\/wp\/v2\/media?parent=22"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bfbond.com\/blog\/wp-json\/wp\/v2\/categories?post=22"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bfbond.com\/blog\/wp-json\/wp\/v2\/tags?post=22"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}