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Bid Bond | Surety Bond
Bid Bond ApplicationType of Bond
A 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
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
Application
Our application process for a Bid Bond is easy. You can apply for the Bid Bond Application .
Find this bond for another stateObligee Information
An obligee is the entity that is requiring you to have the Bid.State | Surety Bond type | Bond Amount | Obligee | More info |
---|---|---|---|---|
License Permit | Bid Bond | License Permit Bid Bond |