Performance Bond

Our fast, online process ensures you get the bond you need to start work on time.

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Navigating the bonding process for large contracts can be complex. We make it simple so you can focus on building.

A performance bond is the most important financial guarantee you can provide to a project owner. It assures them that you have the financial stability and expertise to complete the job according to the contract's terms and timeline. It's not just a requirement; it's a testament to your professionalism.

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• Meet Contract Requirements: Required by law for all federal projects and the vast majority of state, county, and municipal projects.
• Build Client Trust: Provides a level of assurance that encourages project owners to choose your company over others.
• Avoid Financial Risk: If a project has an unexpected issue, the bond protects the obligee from financial loss and ensures the project gets finished.

What is the difference between a performance bond and a payment bond?

A performance bond guarantees that the project will be completed. A payment bond guarantees that all subcontractors, laborers, and suppliers on the project will be paid. They are almost always issued together as a single security package.

How much does a performance bond cost?

A performance bond premium is a small percentage of the total contract amount, typically ranging from 0.5% to 3%. The final rate depends on factors such as the contract value, the contractor's financial strength, and their project history.

Is a performance bond required for private projects?

While they are legally required for public projects over a certain dollar amount, they are also increasingly required for large-scale private projects to protect the owner from financial risk.