The obligees who purchased the bonds win. The subcontractors and suppliers who relied upon that payment bond when they took the job win. When the surety pays claims, (and they paid out billions) they are paying out money that the obligee would otherwise have to pay. Even with the increase in price, bonds are a bargain for the obligee. The owner or G.C., for pennies on the dollar, can purchase a corporate guaranty that the bonded work will be completed, that the subcontractors and suppliers will be paid, and that the job will be lien-free. It is cheap “sleep-at-night” insurance. The past few years show that sureties are willing to stand behind their promise even when they are as beaten up as Muhammad Ali in his second fight with Joe Frazier. Even when up against the ropes, they stand. We’re proud to be in the industry.