Performance, Bid, Supply & Remodel Bonds
BID BOND OVERVIEW:
A Bid Bond is used as a security for bids submitted on a contract. Placing security on a bid guarantees that the bidder will execute the contract at the bid price, upon award of the bid. If security is not submitted with the bid , the bid is rejected. Additionally, if the winning bidder does not enter into a contract, the security is forfeited.
Submissions under $450,000.00: One Page Application
2% rate or higher based on credit
1 page application
Please include contract and bond forms
Please include personal financial statements
2 day turnaround
Submissions over $450,000.00
Rates start at 1% to 3% based on credit, experience, etc.
1 week turnaround on new submissions
Application: Call underwriter for appropriate application at 1-800-452-7121
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ALL ONLINE APPLICATIONS ARE SECURE
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