Contract Bonds (Construction Bonds)
Contract bonds are required if a contractor wants to perform work on public projects, and some private as well, to ensure jobs will be completed property. They are used to guarantee that a contractor will abide by the specifications of a construction contract. A contract bond assures a project owner that a contractor will perform the work and pay specified subcontractors, laborers, and material suppliers.
The Miller Act mandates the use of contract surety bonds for all public construction projects that exceed $100,000. However, some state and municipal laws mandate their use on public projects that cost much less. Although they aren't required by law, many private companies also require contractors to provide contract bonds to minimize financial risk.
Some of the contract bonds we offer are:
We are here to answer any questions you may have about surety bonds, or click here to request your free, no obligation quote today!
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