How do bonds
Bonds help you by giving peace of mind that you will be paid, while at the same time making sure you don't have to pay more out of pocket.
It can be hard to accept a lengthy job; imagine working for months on a project, just for one party to refuse to make a payment. This refusal could be devastating for a business or a client.
In general, bonds are made to guarantee monetary transactions, whether that be taxes paid or charges paid in full.