The infographic "Who Requires Contract Surety Bonds" outlines the importance and necessity of contract surety bonds in various industries, especially construction. It explains that these bonds are typically required by federal, state, and local governments to ensure the completion of contracts and protect against contractor default. The infographic highlights that contractors working on public projects, including roads, bridges, and government buildings, must secure these bonds.

It also mentions private sector projects that may require surety bonds as a form of financial security for clients, ensuring the project is completed according to the terms of the contract. The bond involves three parties: the principal (contractor), the obligee (project owner), and the surety (bond provider). In case the contractor fails to meet their contractual obligations, the surety steps in to cover the financial loss or provide another contractor to finish the project.

The infographic emphasizes how contract surety bonds are a vital tool for mitigating risk in large-scale projects, providing peace of mind to project owners. Overall, the infographic underscores the importance of contract surety bonds in maintaining trust, ensuring accountability, and delivering project outcomes as promised, particularly in public and large-scale private sector projects. It highlights how these bonds serve as a guarantee that work will be completed as agreed, protecting the financial interests of all parties involved.