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What Types of Contract Bonds Might be Needed in Missouri?

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

Missouri Contract 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 (such as a MoDot contract) may be required.

Contract Bond Options:

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

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

Missouri 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.

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

Missouri Proposal Guarantee Bond: Another term for Bid Bond and includes the same aspects

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

Missouri Maintenance 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:

Small Business Association Bond Guarantee Program
Missouri - Division of Purchasing - Current Bid Opportunities
Missouri Department of Transportation - Bid Opening Information
Missouri S&T - Information for Contractors
Washington University in St. Louis - Resource Management - Construction FAQs

How Much Will This Bond Cost?

The premium that you pay for a Missouri contract surety bond will vary and be dependent on business and personal financial statements, work on hand, 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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