Bid Bonds

What is a Bid Bond?

To put it simply, bid bonds are used as financial security for contract bid proposals — especially for large projects such as commercial developments. Project developers have contractors file bid bonds to guarantee they provide serious bids and are financially stable enough to complete the project. Without filing the required bond, a contractor’s bid will automatically be disqualified from the bidding process.

By issuing a bid bond, your underwriter also agrees to issue a performance bond for the contract later on if the bid is accepted. For this reason, the application process is similar to that of performance bonds. You’ll typically have to answer the following questions during the application process:

  • How much is your bid?
  • When is the bid date?
  • Have you ever been bonded before?
  • How long has your company been in existence?
  • What is your personal credit score?

To apply now, download the form which  meets your needs:

Bonds Under $350K

Bonds Over $350K

If you have questions along the way, please don’t hesitate to contact us at (888) 488-BOND (2663)