Contracts are generally done through a solicitation process where individuals and companies can bid on goods, services or 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.
Maryland Contract Surety Bonds are often required by private entities, universities, the federal government, local municipalities and counties. The process generally begins with a bidding process and if awarded the contract, a contract bond or payment and/or performance bond (such as for an MDot contract) may be required.
The Small Business Administration has a Bond Guarantee Program to help small contractors bid on projects.
Most contractors qualify for a Bid Bond at no cost. The premium that you pay for a Maryland Contract Surety Bond will vary and will be dependent on business and personal financial statements, scope of work, the amount of the project and other conditions.
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.
For a downloadable application