Contracts are generally done through a solicitation or bid letting procedure where companies and individuals can bid on construction projects, services 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. Contract Bonds are often required by the local municipalities, universities, counties, federal government 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 may be required.
SuretyGroup.com can often write Bid Bonds at no cost to you. Contact our Surety Bond Specialists to see if you qualify. The premium that you pay for a surety contract bond varies and is dependent on business and personal financial statements, scope of work, work on hand, the amount of the project and other conditions.
The Small Business Administration has a Bond Guarantee Program to help small contractors bid on upcoming projects.
Check out our FAQ page or What’s a Surety Bond? page. Should you need or choose to buy a surety bond, call us first. 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