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Nebraska Contract Surety Bonds

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

Contract Bonds are often required by federal government agencies, local municipalities, counties, universities or private entities. The process generally begins with a bidding process and when a contractor is awarded a contract, a contract bond or payment and/or performance bond (such as for a NDOR contract) may be required.

Contract Surety Bonds:

  1. Payment Bond: Guarantees that subcontractors, suppliers and laborers are paid.
  2. Supply Bond: Guarantees that the company will supply the goods within a specific time period as outlined in the contract.
  3. Proposal Guarantee or 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.
  4. Performance Bond: Guarantees the contractor will perform the contract, including completing the project on time, staying within budget and other terms within the contract.
  5. Maintenance Bond: Guarantees material workmanship for a certain period of time after a project is finished.

Did You Know?

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

Related Links:

Small Business Association Bond Guarantee Program
Nebraska - Contractor Resources
Nebraska - Highway, Bridge and Local Projects
University of Nebraska - Construction Forms

How Much Will This Bond Cost?

The premium that you pay for a Nebraska contract surety bond varies and will be dependent on business and personal financials, experience, scope of work, the amount of the project and other conditions.

More Surety Bond Questions?

Check out our FAQ page or What’s a Surety Bond? page. Should you need or choose to buy a surety bond, buy from us. 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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For a downloadable application