BID BOND

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

Document Downloads
Application: Call underwriter for appropriate application at 1-800-452-7121

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ALL ONLINE APPLICATIONS ARE SECURE

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© Copyright 2018 JR Olsen Bonds & Insurance, Inc. | Broker/Agent Lic. # 0680914 | 7407 Topanga Canyon Blvd. Canoga Park, CA 91303 | (818) 227-2620

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