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Author Topic: Preformance Bonds  (Read 1219 times)

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Offline Autocar

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Preformance Bonds
« on: April 07, 2011, 09:09:09 AM »
I bought a job this week and when I arrive to cut it I have to give them a check to cover ? Ive always tried to do the best job a fellow can do but my exsperance has been it is always hard to get those checks back. I paid .85 cents straight up the tree so I didn't get them for nothing. Anyone else run into this ? Ive seen bonds over a thousand bucks because your trucks are crossing a field title and they get it and if later the title breaks downs your bond will pay for the repairs. I consider it a rip off but just my opinion.
Bill

Offline Gary_C

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Re: Preformance Bonds
« Reply #1 on: April 07, 2011, 09:23:46 AM »
You are right, those kind of bonds are a huge rip off.

I have to deal with a town board in a township right next to a state forest and they have been notorious for requiring a $500-$1000 bond for loggers using any of their township roads and then they just keep it and claim it was because they had to grade the road. Well they also collect money from the state road fund for grading the road. They are a bunch of crooks. Finally the MN DNR sent them a letter denouncing their bond scam and they have seemed to have backed off, at least for now.

But on state timber sales, all loggers are required to provide either cash or a payment bond to cover the entire sale amount. That has been standard since the beginning of time. The state always gets their money. 
Never take life seriously. Nobody gets out alive anyway.

Offline chucker

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Re: Preformance Bonds
« Reply #2 on: April 07, 2011, 10:06:50 AM »
 a $500.00 bond for access to county land with a timber value of $3000.00 for stumpage  across private land.... bond to be refunded after the final inspection of private road (sugar sand/black sand road 1 foot above lake level)... not real sure it will be seen again or not? total stumpage is sold as 100 cord, 60 jack pine, 20 aspen, and 20 of mixed hard woods...
respect nature ! and she will produce for you !!  jonsered 625 670  2159 2171/28"  efco 147 husky 390xp/28" .375... 455r/auto tune 18" .58 gauge

Offline Ed_K

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Re: Preformance Bonds
« Reply #3 on: April 07, 2011, 06:14:47 PM »
The last three private sales i did required a 10% bond.Its hard to come up with the timber cash never mind extra $$$,but i did get the bond money back after jumping thru many hoops  :(.
Ed K

Offline chucker

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Re: Preformance Bonds
« Reply #4 on: April 07, 2011, 06:32:49 PM »
with this sales the surety bond is with the timber price .. its starts at 500.00 and is the first money to be collected by the county....
respect nature ! and she will produce for you !!  jonsered 625 670  2159 2171/28"  efco 147 husky 390xp/28" .375... 455r/auto tune 18" .58 gauge


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