Introduction:

• Explore the role of contract bonds (often referred to as "shity bonds") in enhancing business performance and increasing sales.
• Discuss how these bonds can aid in business development and improve client trust.

What Are Contract Bonds?:

• Commonly used to demonstrate reliability and commitment when bidding on projects or entering contracts.
• They assure clients that you will fulfill the agreed-upon services, protecting them from financial loss and service delays.

How Contract Bonds Work:

• Example scenarios where contract bonds are beneficial:
  • Building construction
  • Road repair
  • Computer system installation
• Contract bonds provide assurance that if you fail to complete a project, the client has financial protection and the project will still be completed.

Legal Requirements:

• The Miller Act mandates contract bonds for government projects to safeguard taxpayers.
• Increasingly, private contracts also require these bonds, recognizing their value in ensuring project completion.

Benefits of Including a Contract Bond:

• Shows potential clients you are serious and committed to delivering high-quality results.
• Can be a differentiator when competing with lower bids that lack such assurances.

Case Study:

• A client bidding on a $2 million AI network installation project included a contract bond in their bid.
• The bond cost about $8,000, which was factored into their bid price.
• Despite being the highest bid, they won the contract due to the added security of the bond and their experience.

Tips for Bidding:

• Consider obtaining a quote for a contract bond in advance and include it in your bid.
• Discuss with your sales department how a contract bond could make your bid more attractive to clients.

Additional Resources:

• For personalized advice, visit actualhuman.com to arrange live, one-on-one consultations with experts in various fields, including:
  • Licensed private investigators
  • Commercial insurance brokers
  • Certified real estate title examiners
  • Certified civil court mediators
  • Licensed building general contractors

Conclusion:

• Don’t underestimate the value of a contract bond in securing projects and boosting sales.
• Leverage this tool to enhance your bids and build client confidence.

Call to Action:

• Check out actualhuman.com for expert consultations and more tailored advice for your specific needs.