Bid Bonds Insurance, explained.
Required to bid most public projects, guarantees your number if you win.
Bid Bonds
A bid bond is a surety bond that accompanies a contractor’s bid on a project. It guarantees that, if awarded, the contractor will enter the contract and post the required performance and payment bonds.
Most public agencies and many private GCs, won’t even open a bid without a bid bond. The bond is the price of admission.
Is this for you?
Inside a Bid Bonds policy.
When this coverage pays off.
Public-works bid
A municipal project requires a 10% bid bond with the proposal. We issue and you submit on time.
GC bid bond requirement
A larger GC requires bid bonds from subs over a threshold. We provide them on demand.
Building bonding capacity
We work with you on financials and history to grow your aggregate bonding line.
Plain-language answers.
Many sureties provide bid bonds at no fee with the expectation of the final bonds if the bid wins.
The bond can be called, the surety pays the difference between your bid and the next bid, then collects from you.
Surety reviews financials, history and the size of jobs. We help you build a bonding profile that grows your capacity.
Ready for a Bid Bonds quote?
Fill the short intake form and we’ll shop across multiple carriers, or call us and we’ll get you a quote on the phone.