Bid Bond

Bid Bond

Bind bonds are required by many projects ( Federal, State, Local or Private) as assurance that a contractor is qualified to perform a certain job. Bid bond is a financial guarantee that if the contractor is awarded the job, they will enter into a formal contract, and provide the required performance and payment bonds. Furthermore, the bid bonds require the contractor to submit the lowest bid on a particular project. On refusal by the contractor to undertake the project, the developer is entitled to the difference between lowest and the next lowest bid. The Bid Bond ensures that the contractor undertakes projects seriously and fulfills his obligations completely.

This bond requires the contractor to submit the lowest bid on a particular project. On refusal by the contractor to undertake the project, the developer is entitled to the difference between lowest and the next lowest bid. The Bid Bond ensures that the contractor undertakes projects seriously and fulfills his obligations completely.

We underwrite this bond based on credit, experience and references and approval of this bid bond program is usually within 24 to 48 hours depending on the amount of the bond.


To Apply for a Bid Bond:

 

 

 

 

Why Get a Bid Bond with Us?

  • Affordable Rates, No hidden fees
  • Experience, in Business since 1988
  • Great Service
  • Fast Approvals & Same day Delivery
  • Free price quotes – No obligation to buy
  • Friendly Staff
 
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