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What Items Are Needed for an Idaho Contract Surety Bond?

A client in Idaho shakes hands with a contractor

Contracts are generally done through a solicitation procedure where companies and individuals can bid on services, construction project or goods. 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.

Idaho 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 (an ITD contract is an example) may be required. There are several categories that fall under the umbrella of contract bonds which include supply surety bonds, bid surety bonds, performance surety bonds, proposal guarantee surety bonds, payment surety bonds and maintenance surety bonds.

How Much Will This Bond Cost?

The premium that you pay for an Idaho contract surety bond varies and is dependent on business and personal financials, scope of work, the amount of the project and other conditions.

Did You Know?

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

Related Links:

Small Business Association Bond Guarantee Program
Idaho Purchasing Department of Administration - IPRO Bid Opportunities
Idaho Transportation Department
University of Idaho - Vendor Information

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