The amount you pay for your bond will vary for a number of reasons such as the project amount, financial credentials and your past work history/experience. Qualified contractors typically pay a rate of less than 1% to 3% of the bond amount.
The experts at Bond911 specialize in Performance & Payment Bonds nationwide. At Bond911, you can have your bond quote approved within 1-2 business days. We work with the nation’s top surety companies to find the best solution for your bond need and have in-house authority to provide you with an easy, accurate and quick approval.
We at Bond911 understand that many of you are living with less than perfect credit. Do not let bad credit stop you from getting the bond you need! Bond911 can approve 99% of all applicants despite low credit scores and other financial issues. Bond911 works with many top bond providers and we have access to exclusive underwriting programs for bad credit situations.
A Payment and Performance Bond must be a contract requirement issued by a municipality or project owner. Payment Bonds guarantee that a contractor awarded a contract will pay all suppliers/subcontractors for labor and materials. Performance Bonds guarantee that the contractor will faithfully perform all duties set forth in a contract. There are three parties bound by a P&P Bond:
Included in this group of Performance and Payment bonds are bid bonds, performance bonds, payment bonds, construction bonds and subdivision bonds. With many unique surety bonds available nationwide, we at Bond911 understand it can be confusing to determine the bond you need. Have questions? Call today (800) 764-7233 to speak to a surety expert and request your free bond quote!