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Colorado Contract Surety Bonds

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Contracts are generally done through a solicitation procedure where companies and individuals can bid on services or goods and construction projects. The process could include completion of a bid bond form, application to a vendor system, and other requirements. Below are links that provide more details to contract processes.

Colorado Contract Surety Bonds are often required by the federal government, local municipalities, counties, universities or private entities. The process generally begins with a bidding process and if awarded the contract, a contract bond or payment and/or performance bond (example CDOT contract) may be required.

Contract Bond Types:

There are several categories that fall under the umbrella of contract bonds which include:

Colorado Supply Surety Bond: Guarantees that the company will supply the goods with a specific timeline as outlined in the contract.

Colorado Bid Bond: Ensures that the surety prequalifies the contractor bidding on the project. The bond confirms that if the contractor is the low bidder, the surety will issue the performance and payment bonds.

Colorado Performance Surety Bond: Guarantees the contractor will perform the contract, including finishing the project on time, staying within budget and other terms within the contract.

Colorado Proposal Guarantee Surety Bond: Is another term for Bid Bond and includes the same aspects.

Colorado Payment Bond: Guarantees that subcontractors, suppliers and laborers are paid.

Colorado Maintenance Surety Bond: Guarantees materials workmanship for a certain period of time after a project is completed.

Did You Know?

The Small Business Administration has a Bond Guarantee Program to help small contractors bid on projects.

Related Links:

US Small Business Administration
Colorado Office of the State Controller, State Purchasing & Contracts Office
Colorado Contract Management System
Colorado Procurement and Contract Services
Colorado State University General Conditions of the Purchase Order for Construction Projects

How Much Will This Bond Cost?

The premium, which is the cost that you pay for a Colorado Contract Surety Bond, will vary and depend on work on hand, business and personal financial statements, scope of work, the amount of the project and other conditions.

More Surety Bond Questions?

Check out our FAQ page. Should you need or choose to buy a surety bond, SuretyGroup.com has been underwriting surety bonds throughout the U.S. for more than 35 years. When you work with us, you enjoy the unique benefit of dealing with a team of highly experienced surety agents with in-house underwriting authority. This allows you to receive competitive, low rates, quick approvals, and immediate bond delivery. In most cases, your bond will be delivered within 24 hours after you apply for it.


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