Straightforward Payment and Performance Bond Solutions for Contractors

Payment and Performance Bonds simplified.

In the world of building and construction, time is money, and clarity is key. That’s why we make sure getting a bond is simple. From bid bonds to payment and performance bonds, we’ve got you covered. We work to provide you with the best possible bond program whether it’s for a public or private project, so you can have peace of mind that you meet your contractual obligations with ease.

What are Payment and Performance Contract Bonds?

A contract bond is a surety bond specific to a contract for construction or services, such as a bid bond or a payment and performance bond. Typically, these bonds are required as part of the contract between the general contractor and the project owner. These can be required for both public and private construction projects.

Payment Bonds: ensuring everyone gets paid.

Payment bonds protect the subcontractors and suppliers from financial losses in case the contractor fails to pay them, either due to bankruptcy or other reasons. In most cases, payment bonds are required by the project owner to guarantee the general contractor will pay certain subcontractors, laborers, and material suppliers associated with the project.

The purpose of payment bonds is not just about fulfilling a requirement; it's about establishing and maintaining trust and reliability throughout your project's lifecycle.

Performance Bonds: delivering on your promise.

Performance bonds offer a guarantee to the project owner that the contractor’s work will meet all the specifications and deadlines. Should circumstances prevent the contractor from completing the project, these bonds provide the project owner the financial support needed to address any gaps, keeping the project on track without additional stress or financial challenges at the owner's expense.