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 $100,000. For larger jobs, the bonding companies require more extensive applications. Please call with any questions.

• If you need instructions on how to fill out the Contract, view here