PERFORMANCE BOND

Performance, Bid, Supply & Remodel Bonds

PERFORMANCE BOND OVERVIEW:
A Performance Bond guarantees that a contractor will adhere to the terms and conditions of a contract. The winning bidder, upon award of the contract, submits this bond. Generally, performance bonds and payment bonds are issued together since they are closely related. A Payment Bond guarantees that a contractor will pay suppliers, laborers, and subcontractors (subject to contract terms) for the labor and materials they have provided. When you get both bond types together, it’s usually termed a Performance and Payment Bond.

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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