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Financing*
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*Material
House Bonds are unique to Hawaii. Material houses are authorized by state
statute to issue performance and payment bonds. A material house bond
guarantees to the bank and owner that: All suppliers and contractors on
the job will be paid to insure no property liens related to the project
will be placed; the project will be completed according to plans and specifications
of the project (performance bond). Contractors and/or owners wishing to utilize the payment processing features without establishing a bond may select our "Assignment Program". Funds are escrowed and issued to the contractor by our bonding department. |
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