J&C Corbett Insurance Services, Inc.

Contract Bonds (Bid, performance, payment bonds)

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• Application for Contracts $250,000 and under
• Application for Contracts $250,000 and up

FAQ

What is a Contract Bond: Bid/Performance/Payment Bond?
"Contract Bond" is the general term for surety bonds relating to bids, job completion, and payment of bills for labor and materials. These would include a Bid Bond (guarantees that the contractor who is awarded the bid will sign the contract based on his bid and qualify for a Performance Bond), a Performance Bond (guarantees job completion according to building plans and specifications), and a Payment Bond (guarantees that labor and material bills will be paid). Contract bonds are usually required for public projects and for many private projects.

How do I apply for a Contract Bond?
We offer quick and easy bond applications for jobs under $250,000. The bonding companies generally write bonds under $250,000 based on a simple bond application if you have a good credit rating.

For larger jobs, the bonding companies require more extensive applications. Please call with any questions.