Page 18 - Alabama 811 Magazine 2018 Issue 4

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tyou are going ta he biddlng on a Contractor has succeashrlly completed it ttequently; yuu must have dane
"public lab” 7 where the awner is smaller handed prajecta, $500,000 prajecta of thrs type and srze
a city, cannty, state, etc 7 yan know or less, the Company will luck more successfully hetare 7 and prave it; you
they will he reqtnrrng a bond m tavarahly on his $lmil appltcattan must have assets 7 preterahly llquld, in

the amount at the jab. This protects the unless you have a visible track record, Excess cf the hand amatrnt. laecause, IF

enttty tram having tn re-hrd the job In at wun'I happen. the bond is detaulted, yuu are gcung to

case the winner hgnres out he did the . . u ,, have to rermhtrrse the hand carnpany

math all wrang, and walks nff the jab wt" “IP19? _“°" (“'2 M": ‘_’}‘f bf?‘ ‘ ’ tar the full ammrnt they have had to

ahout halfway through. That hond has ‘” '9“ Y " 1”” “ ""“Y °:‘ ,f’‘’’ E ,, expend un your behalt7 and yuu have

ta expand to whatever changes are put ;‘l“‘ f.}‘“_j;‘1“‘1:.‘§‘‘;1’ '5 b““‘“‘:fi"“' ta have rt ta be ahle to repay it, right?
Ihrnugh So,abondiDr$1rnilliunc:m b a ‘ °‘“.‘“’ 2 ' ' “““5“ ‘ okhavesatneone co-sagnwhacan

. and. Abld hand rs cast tree, by the .
easrly be:umenbundioz$2 mrlhan. If m U G ._ __f 1 d help pay rt. hands are the fully Ihlng
"’.‘Y‘ ”°“ “ .‘""°“““°““ ““ Ihalmakes rtpossrhletor contractars ta

Ouch! wtns the lad, that had hand converts grow mm H“ large! (mm Pwfimbm

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

d""“”’““d °"P“““5 “’ 32 ‘"1’ "W" fu('c2ss'iI1l>nu harm 1180 {part7 there is Insumnceie drtterent alto ether Yuu
°°’““‘h‘“5 5°“ haywire “"d “'2 no aha etar the bad hand Acantract don't re a > the insuranczgcum ‘a. rta
°°“‘”‘°“‘”“““°”‘“‘*"l‘ “P’°‘“‘5°“* band lfnemll costs.-arnethin mthe clann hap yens liabuildln is'pa‘tl¥Ial

The band company as respansihle to the If V ’, ’ . 5 . __ VP " 3 ’

. . . nelg harhaad atah at the yah pncc If loss from fire, tornaole, etc, repayment

“““'Y‘°""° “°’“"‘““"“ "me "’°'°“" "alls ilemso tlrnnl" lfacuntzaclozls is not re urreol Yuu wreck uur car

Yes} The hand Company has ta now ‘Y’ ’ P ’ . _ ‘4 ‘ V _ .’

. new 7 wrth mayhe one or two smaller msnranee pays tor ll. Your rate: wrll
hare anather contractor to complete _ _ ,
. . handed lab: at $100,000 or so, the prahahly go up, hut yuu don t repay

‘h""P""“°‘“‘*”""“”““”I"}‘"“ hanolcom an —lF the arewillan ta an thin

“V ‘”’‘’“d’“ ""“Y ““ b°““ °‘““P““Y issue a bolfd at all 7 willyéharge maxi y 8

7a erwtse awn ast esnret 7 . eon In slnsumnce an sure

”‘ ' “" “ Y The an hlnlwzva tnrecallateral “‘ 1”" 5 “I ‘Y
thoroughly examlnes all applrcants fur ( Y 5 * “ _ , have in commanisthatthey are
even a murlgngz an ymrr hanse.) ur
bands? Whips mlmvmble Lzmof Cram cantracts, they Charge a premnnn
. ._ . ._ _ _. _ Lh . and they respanol rtsamethrnghad
Thts ts why rt ts almn~t rmpassrhle fur payable ta ehand company In case h _ Th ‘ gm _ Mk ‘h
anew contractar to get handed tara of detault “VP*“" “ "“ *’““¥‘. ‘ E E
. . . same (lung hut, trust me, It Is nat. W
$l|'l1ll]Ob nghl uul of the gate. If that Yam (mm must be almm Pmm
1s . Alubamasll 2fl1E,!ssue4 and the band mmvany will check