Shayne Glass

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667 appearances 2 recordings 1 series first heard Mar 2025 last heard Apr 2025

Shayne Glass’s voice in public audio — every appearance, attributed to the second.

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Builders, Budgets, and Beers · Bonding and Tight Financials for Construction Businesses with Shayne Glass · 5 Mar 2025 podcast

So then, yeah, usually it'll start with a bid bond.

So there's a 10% bid bond requirement.

So on that same project, we'd have to get a bond up front.

And then in Ohio, every state's different, but in Ohio you have a bid and performance bond.

So we kind of have it as all part of the same process, but you get it up front with the bid and then all the way through completion based on the size of the contract, they'll calculate their premium on that.

So it could be,

all the ratings are all over the board depending on the financial strength of the company.

Um, but that's what they make.

So it's kind of like insurance.

It's not, it's not insurance.

Uh, but it's kind of like that, uh, standing behind the company to see, you know, it's not like, uh, it's a little different with insurance.

You have a claim, something bad happened.

You, you know, you turn it in, whatever this is.

I mean, if a company fails on a project, they're, they're, they're basically done.

I mean, reputation wise, um,

there's really no coming back from that.

So bonding is a big deal.

And in order to do bonding, you have to have strong financial information.

So we are to the point where we work with an independent accounting firm that does a financial review.

So we have our financials internally done for the year.

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