RI General Contractor Practice Questions - Rhode Island General Contractor Exam

What is the difference between a performance bond and a payment bond on a Rhode Island construction project?

They are the same thing A performance bond guarantees completion; a payment bond guarantees payment to subcontractors and suppliers A performance bond covers materials; a payment bond covers labor A performance bond is for commercial projects; a payment bond is for residential

Correct Answer:

A performance bond guarantees completion; a payment bond guarantees payment to subcontractors and suppliers

Access more questions from this quiz

Continue to RI General Contractor Practice Questions - Rhode Island General Contractor Exam for more practice questions and the full quiz experience.

Access More Questions