Bidding for projects, or need a bond to start one? We've got you covered for any bid, performance & payment bonds you need.
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A performance & payment bond is a guarantee that a contractor will finish the job and pay subs/suppliers. If the contractor defaults, the surety either hires someone to complete the work or pays the project owner up to the bond amount.
Most public works and large private projects: commercial construction, roads and bridges, federal/state/local jobs.
Usually 1–3% of the contract price, driven by your credit/financials and the size of the project.