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Why Do Contractors Need Payment Bonds?

A person writes a payroll check

A Payment Bond guarantees that a contractor will pay all suppliers and sub-contractors for labor and materials. A Payment Bond is usually required in conjunction with a Performance Bond and they are often referenced as a single bond, Payment and Performance Bond. A Payment Bond must be a requirement of the contract and obligee.

Payment bonds may be a requirement of any contract size and class of business.

New contractors that plan to bid on a project, or need a payment and performance bond and are interested in the SBA Surety Bond Guarantee Program, please complete our Bond Kit.

Existing Client?

Items needed to request a bid bond:

How Much Will This Bond Cost?

The premium that you pay for a Payment Bond is dependent on the contract amount, work on hand, experience, and other factors.

Have Questions?

Contact our Surety Bond Specialists at:

Phone: 1‑844‑432‑6637
Emailinfo@suretygroup.com
Fax:     404-351-3237
Hours: 8:00-5:00 CST, Monday through Friday



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