Cool, thanks for the lessons everyone. It seems like it should be the way you describe, but I couldn't find anything that confirmed it.
Quote:
Originally Posted by Graystoke
I recommend the cashiers check for your small project. Yes a pain in the ass but cheaper and quicker
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I don't do these things very often, but isn't a cashier's check a cash equivalent? As in, I would need them to send the check back or I'm out $1,000? Maybe they've got foolproof systems in place, but that's just a little scary to me. I'd rather send something that just gets used if needed, but they won't take a company check.
It still seems better than going through a surety company, though. I'm reading that they'll charge 1 to 4 percent of the contract amount, and even though it's not a ton of money it seems like it's just wasted money to pay for that.