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Old 01-04-2016, 11:53 PM   #1
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Default The importance of being bondable

Has anyone run into the problem of not getting the opportunity to bid on a big job simply because of something stupid that happened when you were young and dumb?
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Old 01-05-2016, 12:38 AM   #2
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Get a pardon.
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Old 01-05-2016, 12:43 AM   #3
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Don't need one, A close friend had this problem, missed out on a new school.
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Old 01-05-2016, 06:43 AM   #4
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A bond has nothing to do with jail or criminal record. It has to do with your credit and fiscal records. Its basically insuarance against you that you will complete the job.
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Old 01-05-2016, 08:46 AM   #5
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I have to wonder if bonding is different in Canada than it is in the US. Up here I'm pretty sure it's insurance against theft. My understanding is that there are some insurance companies that will bond individuals with criminal records. They're few and far between and depending on your criminal record the premiums can be massive.

Just my understanding, not 100% sure of that.

If you're gonna apply for a pardon, get started on it quick. It can be a very lengthy process. Keep on top of your documentation. One lost document can result in having to backtrack a step which could take months or years. The length of the process can be prohibitive to people even bothering which is sad.
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Old 01-05-2016, 09:24 AM   #6
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A bond has nothing to do with jail or criminal record. It has to do with your credit and fiscal records. Its basically insuarance against you that you will complete the job.
I wish it were that simple. Criminal records are allowed to be included in credit reports, although they usually are not. Also, the underwriters can refuse a bond or price it out of reach based on other indications of "character".

EDIT: at least in the US
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Old 01-05-2016, 09:52 AM   #7
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I have to wonder if bonding is different in Canada than it is in the US. Up here I'm pretty sure it's insurance against theft. My understanding is that there are some insurance companies that will bond individuals with criminal records. They're few and far between and depending on your criminal record the premiums can be massive.

Just my understanding, not 100% sure of that.

If you're gonna apply for a pardon, get started on it quick. It can be a very lengthy process. Keep on top of your documentation. One lost document can result in having to backtrack a step which could take months or years. The length of the process can be prohibitive to people even bothering which is sad.
When I got my insurance they fight even ask shout a criminal record.

I was always in the understanding that being bendable meant no criminal record.
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Old 01-05-2016, 10:33 AM   #8
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A bond has nothing to do with jail or criminal record. It has to do with your credit and fiscal records. Its basically insuarance against you that you will complete the job.
Quite right you are and in days of old the GC would carry the bond for us. Those were the days when we actully worked together Here so long as you have the money ( to bid a school) you cany buy a performance bond . You do have to have colleteral ie your house, cash, business

Oh and far as criminal record heck here tons of illegals work on state and federal jobs with no idea where they came from or there background. Again if your fully legit you pay the price most times. If you are worried about your criminal record apply for Governors pardon it happens trust me.

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Old 01-05-2016, 05:28 PM   #9
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No. I have always lived the life of a saint and scholar - while also being incredibly humble.
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Old 01-05-2016, 10:47 PM   #10
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That's how it is on that side of the line, in Canada you need to be bondable.
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Old 01-06-2016, 08:22 AM   #11
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Your company should have its own tax id and its own dunn and Bradstreet credit rating. If your a OMS taking your self named company checks and cashing them at the customers banks or the has station, any job you would have to bond on would be beyond your grasp, because chances are you couldnt keep up with the paperwork or have the operating cash to pay a bond months before you start a job anyways.
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Old 01-06-2016, 03:51 PM   #12
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In order to get a contractors' license here in Oregon (which is required by law), you have to have insurance and a bond. The size of the bond depends on what type of contractors' license you have. So, if your past history kept you from aquiring a bond, you couldn't legally perform work as a contractor.
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Old 01-06-2016, 05:15 PM   #13
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In order to get a contractors' license here in Oregon (which is required by law), you have to have insurance and a bond. The size of the bond depends on what type of contractors' license you have. So, if your past history kept you from aquiring a bond, you couldn't legally perform work as a contractor.
One of the nice things about being a registered contractor in WA state (maybe the ONLY nice thing) is that they have an alternative to paying for a bond. You can deposit a specified amount in a WA saving institution in an "assigned account". Right now, that hardly seems like a big deal, but when we could lock in 10-year CD at 12%, that seemed a sweet alternative to the annual cost of a bond. We got the interest and after dropping our ticket, we got the principal back.
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