Page 20 - Mississippi 811 Magazine 2018 Issue 4

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tyoa ate gaing ta he biddlng on a Contmdnr has ..-aceea.-hilly completed it fmquently; yuu mual have dane
"public lab” 7 whete the awnei is ..-mallet handed ptaiecta, $500,000 projects of ([115 type and 5122
a city, caanty, alate, etc 7 yaa know 0! lesa, the cpmpany will luck mote succesafully hetate 7 and piaye it; you
they will he ieqamng a bond in favorably on his $lmil applieatian must have assels 7 pteteiahly liquid, in

the amount at the ink. This ptotecta the Unlzas you have a viaiblz track iecatd, excess of the hand amaant. laeeaaae, IF

entity tnnn having ta ie-hid the iah in it wun'I happen. the bond i.- detaulted, yau are going ta

case the winner figurza out he did the . . u ,, have to teimhat.-e the hand cainpany

math all wtang, and walks off the job M"*.‘ RFQ’ “.3 ““ mm‘ W "‘“‘“‘ tat the full amaant they have had ta

7 (hm really is ]u§I a way ta shuw the

ahoat halfway through. what hond has [1 h , _ ,, ,, expend an your hehalt7 and yaa have

ta expand ta whatevet changes ate put “‘ “_j;‘1“‘;?§“;1"" b““‘“‘:fi"“' ta have it ta be ahle to repay it, right?

thtaugh So, abondtatsslmillian can b “C: STA“; :1 ' ' _ff°““ E‘ m‘ OR have someone no-aign wha can

Easlly heeameahandtotsz millian. "“ ‘ ‘ "“ ‘°“?" ‘*9’ V 2 help pay it. Bonds ate the anly thing

“*3” 1‘ “‘° ‘°“”““‘" "' °“““°""‘“‘ W‘ that makes it posslble tot contmclnrs ta

oachl wins the bid, that hid hand converts grow mm ll“ large! (mm Pwfimbm

Yes, in really had when that mlllion ‘°r:$:f;‘§:“Lf:E‘:‘“C';:!‘°:dW}“f“}‘}‘E“is ml yobs

dullnrbund expands ta $2 mil, then ‘_’ _ ’ 5‘ ‘ . ._

. succzaaflll, na hann, no fuul 7 thete IS Inaumnce i. dittetent altogether. Yuu
°°’““‘h‘“5 5°“ h‘V""’° “"d “'2 no aha e tat the bid hand Acanttaet don't re a the in.-utance cam 1n ita
°°“‘”‘°“‘”“““°”‘“‘*"l‘ “P’°‘“‘5°“* band regnemll EOiL§'~'Dl1\ELhin inthe claim hap yens liabuildln iapattftal
The ""““ ‘°"‘1’““Y‘° '“*"P°“"“"°‘°‘l“ nel hlEathaadyat37i at the alignce if lo.-.-ttonrgtetlotnada etc fia ment
entity tot the eompletian at the plcrjetl. ,, 5 " ,, ' P . ” ' ‘ ' ' P V

all syslema optimal Ifacuntlatlolla i.-natteaaiteol. Yuu wreck yuurcal,
V95’ The ""“d “’“‘P“"Y ha’ “’ “°"" new7with ma he one DI’ twa smaller in.-tttanee a 5 font Yourmles will
hite another contractor to complete b _ Y . ’ P Y’ ' ,
. . anded luba of $100,000 01' :0, the probably go up, hut yaa don t tepay
‘h""P""“°‘“‘*”""“”““”I"}‘"“ handcom an —lF the atewillin ta an thin
“V ‘”’‘’“d’“ ""“Y ““ b°““ °‘““P““Y tame a bolfd at all 7 willyéhazge maxi y 8
—uLh2rwise known as the aurety 7 Tm mi hum N mm mum”! The only things msumnce and ..-aiety
thoroughly Examlnes all appllcnnli for Y 5 * “ _ have in communisthnllhe ate
(eyenamangage an yuurhousel) Cu’ Y
bands? _ . cunlracts, they Charge a piemnnn
pethapa an Irrevocnble Lettet of Credit
. . . . . . and they respnnd liaumethlngbad
Thla IS why it IS alma.-t lmpuaslblz fur 7 payable ta the hand company ln Case h .
appen.-. That might suund like the
a new tontmclnr to get handed tat a of detault . .
$1mfl.obfi hmulmhe am mm Sfll‘l’|2(l\ll1gb|XI,(!Llall'l1E,IKISHDL W
1 5 5 ' Your credit must he almost petteet
ta . Mlsslsslumfill 2015, Issued W1 “'2 hm‘ °°"‘P“W Wi“ Check