Shear

On the plus side, since the cost of the bond is included in the contract amount, the city may have saved about $3,000 for the tax payers. That's the approximate difference between the cost of a traditional 100 % performance and payment bond as opposed to this maintenance bond issued for a lower dollar value.

Regardless of how expertly the pre-qualification is performed, projects can still have problems and defaults. In fact, disputes are normal in construction. When they boil over, it can be detrimental to the project owner (the city) costing more time and money.

In the absence of a performance bond, what solution is available to the taxpayers if a contractor does fail in the midst of the project? The city would be forced to conduct an evaluation regarding the remaining portion of the work, then re-advertise the project and spend additional time and money to bring in a completion contractor. (Contractors expect to make exceptional profits when performing a rescue.).

Kett K-200 Double Cut Electric Metal Shears
Kett K-200 Double Cut Electric Metal Shears
29.99
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Manual Guillotine Shear 32 X 16 Gauge Sheet Metal Plate Cutting Cutter W Stand
Manual Guillotine Shear 32 X 16 Gauge Sheet Metal Plate Cutting Cutter W Stand
389.99
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Hand Shear Sheet Metal Cutting Bench Mount 12
Hand Shear Sheet Metal Cutting Bench Mount 12
134.97
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Mechanical Shear
Mechanical Shear
6,075.00
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Cincinnati 14 X 12 Shear
Cincinnati 14 X 12 Shear
12,500.00
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Amada Power Squaring Shear
Amada Power Squaring Shear
4,000.00
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Niagara Model 78-b Power Squaring Shear
Niagara Model 78-b Power Squaring Shear
5,000.00
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Tennsmith 10 X 14 Ga. Mechanical Shear.
Tennsmith 10 X 14 Ga. Mechanical Shear.
8,500.00
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Century Cincinnati 12ga X 52 Power Shear
Century Cincinnati 12ga X 52 Power Shear
4,350.00
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Wysong 52 Power Shear Press
Wysong 52 Power Shear Press
4,200.00
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Wysong 1225 Mechanical Squaring Shear
Wysong 1225 Mechanical Squaring Shear
9,500.00
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54 Cincinnati Shear
54 Cincinnati Shear
3,700.00
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14 X 10 Chicago Hydraulic Shear
14 X 10 Chicago Hydraulic Shear
15,000.00
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Cincinnati Model 1810 10 X 14 Squaring Shear W 36 Fombg 10 Sq. Arm
Cincinnati Model 1810 10 X 14 Squaring Shear W 36 Fombg 10 Sq. Arm
12,885.00
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Pexto 52 Jump Shear Works Great
Pexto 52 Jump Shear Works Great
2,500.00
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Roper Whitney Shear Model 10m14 Tennsmith Brand
Roper Whitney Shear Model 10m14 Tennsmith Brand
9,995.00
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Cincinnati Model 1410 Mech Power Squaring Shear
Cincinnati Model 1410 Mech Power Squaring Shear
6,200.00
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Wysong 1010-rd Power Squaring Shear - 120 - 10 Ga.
Wysong 1010-rd Power Squaring Shear - 120 - 10 Ga.
11,500.00
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Wysong Model 1025 Power Squaring Shear
Wysong Model 1025 Power Squaring Shear
6,500.00
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Cincinnati Century Shear
Cincinnati Century Shear
16,500.00
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Tennsmith Mechanical Power Shear Model Lm510
Tennsmith Mechanical Power Shear Model Lm510
10,500.00
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16 Gauge Niagara Metal Shear
16 Gauge Niagara Metal Shear
3,218.00
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Lvd Shear 14 X 10 - Model 10vh25
Lvd Shear 14 X 10 - Model 10vh25
12,500.00
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Niagra 14 Gage Power Shear
Niagra 14 Gage Power Shear
3,999.99
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Niagara 316 X 14 Underdrive Series Power Squaring Shear B39447
Niagara 316 X 14 Underdrive Series Power Squaring Shear B39447
6,950.00
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10 Ga. X 6 Cincinnati Mechanical Power Shear Model 1006r
10 Ga. X 6 Cincinnati Mechanical Power Shear Model 1006r
7,500.00
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Wysong 1096 Sheet Metal Shear
Wysong 1096 Sheet Metal Shear
8,900.00
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52 National Shear Air Powered 12 Gauge Capacity
52 National Shear Air Powered 12 Gauge Capacity
4,850.00
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Niagara Hydraulic Shear
Niagara Hydraulic Shear
29,500.00
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Niagara Model If-12-14 14 X 12 Hydraulic Shear W Squaring Arm
Niagara Model If-12-14 14 X 12 Hydraulic Shear W Squaring Arm
14,900.00
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10 Gauge X 10 Cincinnati 1010 Shear
10 Gauge X 10 Cincinnati 1010 Shear
7,500.00
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68 X 10 Ga Diacro Promecam Hydraulic Power Squaring Shear Model Gth420
68 X 10 Ga Diacro Promecam Hydraulic Power Squaring Shear Model Gth420
7,950.00
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14 X 13 Amada Power Squaring Shear With Programmable Back Gauge And 2 Blades
14 X 13 Amada Power Squaring Shear With Programmable Back Gauge And 2 Blades
32,500.00
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Wysong 1472 Mechanical Power Sheet Metal Shear 6 X 14 Ga
Wysong 1472 Mechanical Power Sheet Metal Shear 6 X 14 Ga
4,999.99
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Jet 52 Foot Shear
Jet 52 Foot Shear
2,200.00
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Steelweld Model 308 8 X 14 Squaring Shear W 24 Back Gage 8 Sq. Arm
Steelweld Model 308 8 X 14 Squaring Shear W 24 Back Gage 8 Sq. Arm
7,885.00
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Famco Model E12143 Mechanical Power Squaring Shear
Famco Model E12143 Mechanical Power Squaring Shear
5,450.00
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Roper Whitney Pexto Usa 8 Ft 18g Gauge Manual Shear Sheet Metal Fabrication
Roper Whitney Pexto Usa 8 Ft 18g Gauge Manual Shear Sheet Metal Fabrication
5,000.00
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Pexto Shear
Pexto Shear
3,950.00
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Wysong 1896 Manual Stomp Shear 8 X 18 Gauge Mild Steel Capacity
Wysong 1896 Manual Stomp Shear 8 X 18 Gauge Mild Steel Capacity
5,750.00
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14 X 12 Cincinnati 1812 Shear
14 X 12 Cincinnati 1812 Shear
13,500.00
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Nice Heller Machinery 14 X 10 Mechanical Power Shear
Nice Heller Machinery 14 X 10 Mechanical Power Shear
11,499.00
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Tennsmith 36 16ga Model T16 Foot Shear
Tennsmith 36 16ga Model T16 Foot Shear
1,400.00
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12 Used Hydraulic Alligator Shear Excellent Condition
12 Used Hydraulic Alligator Shear Excellent Condition
11,250.00
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Niagra Power Squaring Shear
Niagra Power Squaring Shear
4,500.00
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National Nh5216 16 Ga X 52 Hydraulic Power Squaring Shear
National Nh5216 16 Ga X 52 Hydraulic Power Squaring Shear
4,999.99
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Cincinnati 1810 10 X Mechanical Shear 24 Rombg
Cincinnati 1810 10 X Mechanical Shear 24 Rombg
11,500.00
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Atlantic 10 X 14 Hydraulic Power Squaring Shear
Atlantic 10 X 14 Hydraulic Power Squaring Shear
15,900.00
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Niagara Power Squaring Shear
Niagara Power Squaring Shear
4,590.00
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Beatty Machine Power Shear 10 Gauge X 10
Beatty Machine Power Shear 10 Gauge X 10
7,000.00
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10 Gauge X 10 Niagara Shear 610
10 Gauge X 10 Niagara Shear 610
11,900.00
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Cincinnati Mechanical Shear Open End With Back Gauge 144 Cutting Length
Cincinnati Mechanical Shear Open End With Back Gauge 144 Cutting Length
9,000.00
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Cincinnati 1812 Mechanical Shear
Cincinnati 1812 Mechanical Shear
18,900.00
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14 X 12 Cincinnati 2cc12 Mechanical Shear
14 X 12 Cincinnati 2cc12 Mechanical Shear
23,500.00
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52 Shear Brake And Roll Machine 3 In One - 16 Gauge
52 Shear Brake And Roll Machine 3 In One - 16 Gauge
21,895.00
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Accurshear 637510 10 X 38 Hydraulic Shear W Front Operated Backgauge 2010
Accurshear 637510 10 X 38 Hydraulic Shear W Front Operated Backgauge 2010
39,500.00
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Gmc Deluxe Hydraulic Shear Hs-0412md
Gmc Deluxe Hydraulic Shear Hs-0412md
7,850.00
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Niagara Model 36-f Squaring Shear 16 Ga. Capacity Wextra Blades Backgauge
Niagara Model 36-f Squaring Shear 16 Ga. Capacity Wextra Blades Backgauge
1,750.00
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Used Amada M-2560 Shear
Used Amada M-2560 Shear
17,500.00
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16 Ga. X 4 Roper Whitney 152k Foot Shear
16 Ga. X 4 Roper Whitney 152k Foot Shear
2,450.00
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Wysong Power Shear
Wysong Power Shear
6,500.00
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Cidan Power Squaring Shear 12 Ga X 52
Cidan Power Squaring Shear 12 Ga X 52
8,000.00
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Wysong 10 Ft. X 10 Ga. Mechanical Shear.
Wysong 10 Ft. X 10 Ga. Mechanical Shear.
10,826.00
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316 X 8 Amada M-2545 Shear 1986
316 X 8 Amada M-2545 Shear 1986
9,500.00
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316 X 4ft 7 Gauge Metal Shear 316 Columbia 0604l
316 X 4ft 7 Gauge Metal Shear 316 Columbia 0604l
6,950.00
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Pacific Plate Shear 12 X 10 500 Af10
Pacific Plate Shear 12 X 10 500 Af10
17,850.00
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Pacific 12 X 14 Hydraulic Shear
Pacific 12 X 14 Hydraulic Shear
14,500.00
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1980 Amada M-3060 Shear 14 X 10
1980 Amada M-3060 Shear 14 X 10
17,500.00
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Cincinnati 250hs 144x14 Cnc Hydraulic Power Squaring Shear
Cincinnati 250hs 144x14 Cnc Hydraulic Power Squaring Shear
18,500.00
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Htc 375-10 Psii 38 X 10 Hyd Shear W Front Op Power Backgauge Squaring Arm
Htc 375-10 Psii 38 X 10 Hyd Shear W Front Op Power Backgauge Squaring Arm
11,900.00
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Wysong 10 Ga. X 10 Ft. 120 Power Squaring Shear Model 1010
Wysong 10 Ga. X 10 Ft. 120 Power Squaring Shear Model 1010
22,500.00
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Pearson Metal Shear
Pearson Metal Shear
8,500.00
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Metal Shear - Cincinnati 2512 - 38 X 12
Metal Shear - Cincinnati 2512 - 38 X 12
32,500.00
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National Jump Shear 52 16 Gauge Support Arms Back Gauge Hotrod Fab Welding
National Jump Shear 52 16 Gauge Support Arms Back Gauge Hotrod Fab Welding
2,600.00
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18 Gauge X 10 Wysong A-120 Shear
18 Gauge X 10 Wysong A-120 Shear
6,500.00
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16 Sweed Hydraulic Alligator Shear
16 Sweed Hydraulic Alligator Shear
9,990.00
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16 Used Striptech Recycling Alligator Shear
16 Used Striptech Recycling Alligator Shear
6,500.00
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13760 Atlantic 6 X Hydraulic Shear Model Hde6x14
13760 Atlantic 6 X Hydraulic Shear Model Hde6x14
14,500.00
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316 X 12 Sheet Metal Shear Cincinnati Power Squaring Cutter W Back Guage
316 X 12 Sheet Metal Shear Cincinnati Power Squaring Cutter W Back Guage
19,500.00
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Used Wysong Mechanical Power Shear 14 X 12 Ft Model 1225
Used Wysong Mechanical Power Shear 14 X 12 Ft Model 1225
22,500.00
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Wysong Hydraulic Shear 16 Ga. X 52 With 24 Rear Operated Manual Backgauge
Wysong Hydraulic Shear 16 Ga. X 52 With 24 Rear Operated Manual Backgauge
5,950.00
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14 Gauge X 4 Cincinnati 1004r Power Squaring Shear Sheet Metal Cutter
14 Gauge X 4 Cincinnati 1004r Power Squaring Shear Sheet Metal Cutter
7,950.00
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Wysong 1010 10 Ga. X 10 Mech. Shear W Front Op Manual Backgauge Squaring Arm
Wysong 1010 10 Ga. X 10 Mech. Shear W Front Op Manual Backgauge Squaring Arm
12,900.00
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10336 Wyson 12 X 10ga Mechanical Plate Shear
10336 Wyson 12 X 10ga Mechanical Plate Shear
9,500.00
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Promecam 10 X 14 Hydraulic Shear With Back Gage
Promecam 10 X 14 Hydraulic Shear With Back Gage
13,500.00
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38 X 12 Cincinnati 375 X 12 Hydraulic Power Shear 1999
38 X 12 Cincinnati 375 X 12 Hydraulic Power Shear 1999
27,500.00
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American Hercules 12 X 10 Shear
American Hercules 12 X 10 Shear
19,500.00
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Wysong 1252 Mechanical Shear 12 Gauge X 52 5687
Wysong 1252 Mechanical Shear 12 Gauge X 52 5687
12,500.00
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14 X 12 Cincinnati 2cc12 Mechanical Shear
14 X 12 Cincinnati 2cc12 Mechanical Shear
26,500.00
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Gmc 4 X 10 Gauge Hydraulic Shear Hs-0410md
Gmc 4 X 10 Gauge Hydraulic Shear Hs-0410md
9,850.00
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Wysong 12 X 14 Power Squaring Shear 1225
Wysong 12 X 14 Power Squaring Shear 1225
32,500.00
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Gmc Heavy Duty Hydraulic Shear Hs-0825e
Gmc Heavy Duty Hydraulic Shear Hs-0825e
22,850.00
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Gmc Heavy Duty Hydraulic Shear Hs-0410m
Gmc Heavy Duty Hydraulic Shear Hs-0410m
12,850.00
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Accurpress Accurshear B837510 Hydraulic Metal Squaring Shear 38 X 10
Accurpress Accurshear B837510 Hydraulic Metal Squaring Shear 38 X 10
22,000.00
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Cincinnati 12 X 34 Hydraulic Squaring Shear 6se12
Cincinnati 12 X 34 Hydraulic Squaring Shear 6se12
49,500.00
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Shear Metal Cutting Mechanical 8 X 18 Capacity
Shear Metal Cutting Mechanical 8 X 18 Capacity
4,000.00
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6 X 14 Us Industrial Hydraulic Power Squaring Shear Yoder 72423
6 X 14 Us Industrial Hydraulic Power Squaring Shear Yoder 72423
11,500.00
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Amada M 2545 Shear 8 Ft. X 316 In.
Amada M 2545 Shear 8 Ft. X 316 In.
17,500.00
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Tennsmith Shear
Tennsmith Shear
2,800.00
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Price Reduced Promecam Model Gh1020a Hydraulic Shear 72 X 38 Mild Steel
Price Reduced Promecam Model Gh1020a Hydraulic Shear 72 X 38 Mild Steel
9,975.00
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In light of the significant downside risk associated with this strategy, it is hard to imagine how the city concluded it was prudent. The approach taken by most public bodies is to require a 100 % performance and payment bond. Everyone hopes the project will go smoothly with related bills paid on time. The reality is that most jobs do, but not all.

Our conclusion is that this alternative strategy places an unnecessary risk on the tax payers. Let's face it, bonds are an economical way to screen the contractors, assure successful performance and guarantee bills are paid. The 100 % P&P bond requirement is normally statutory because it is the most efficient way to protect the public interest.

Being financially stable is important for individuals. Of course, it is vital to have sufficient finances in case that you want to invest in items that can improve your lifestyle such as a house or a car. With this, more and more individuals save a part of their salary in banking institutions.