The infographic titled "Who Requires Contract Surety Bonds?" explains the necessity of contract surety bonds in the construction industry and their role in ensuring project completion. These bonds involve three parties: the principal (contractor), the obligee (project owner), and the surety (bonding company). They serve as financial guarantees that contractors will fulfill their obligations, protecting project owners from potential financial loss due to defaults or poor performance.

The infographic highlights that contractors and subcontractors are typically required to obtain contract surety bonds, especially for government contracts or large private sector projects. These bonds enhance contractor credibility and demonstrate financial responsibility, making them more competitive in securing contracts. Additionally, project owners and developers mandate surety bonds to minimize risks related to incomplete work, delays, or contractor failures.

By requiring contractors to secure these bonds, project owners ensure financial security and project continuity. Overall, the infographic emphasizes that contract surety bonds promote accountability, protect investments, and are essential in maintaining trust in the construction sector.