Bid Bond | Surety BondBid Bond Application
Type of BondA bid bond guarantees the obligee that the principal will be able to obtain a Performance and Payment bond, if they are awarded the contract. The bid bond amount is usually 10% of the finale contract price. Obligee's like bid bonds because they help qualify the contractor. If a performance bond is not obtained in, a timely manner after the bidder was awarded the contract the project will be awarded to the next lowest bidder.
Program: Our agency currently has several specialty programs that can help you place your Bid Bond.
Bid Bonds are an extension of credit, like a loan your rate will be based upon your credit situation. Most surety agencies will decline your bond submission if you don't have a 700 credit score, but our company is different. We can help you in almost any credit or financial situation. Our rates start at 1% to 3% for most surety bonds. If your credit has taken a beating the rates start at 4% to 25%.
Always check with the "Obligee" for details
Our application process for a Bid Bond is easy. You can apply for the Bid Bond Application .Find this bond for another state
Obligee InformationAn obligee is the entity that is requiring you to have the Bid.
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|License Permit||Bid Bond||License Permit Bid Bond|