Rates start at 1% of the bond amount for qualified applicants. Rates are based on credit score and underwriting criteria.
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For bond amounts up to $400,000, the Service Contract Bond is a simple and fast one page application. Approval will be based on personal credit of the applicant.
For bond amount over $400,000, we will need an application and financial statement to submit for underwriting consideration.
Once approved, we will need to collect the bond payment and the original signed bond application to release the original bond. Our applicants can get bonded quickly, easily and at the lowest price!
At Bond911, we understand that many of us 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 the nation's top bond companies and we have access to exclusive underwriting programs for bad credit situations.
Service and Supply Contract Surety Bonds provide financial security for non-construction contracts by assuring the owner (obligee) that the contractor (principal) will perform the work and pay certain subcontractors, laborers, and material suppliers.
Service Contracts may include landscape maintenance, janitorial contracts, street sweeping, security services, window washing, equipment contracts, IT services and facilities maintenance. These agreements are unlike payment and performance bonds because they are not always issued between a public agency and a licensed contractor. Service contracts can be issued between private or public parties and are used to guarantee the terms of an agreement between parties.Service contract bonds may include the following:
If the principal fails to comply with contract terms and commits any act of fraud or dishonesty in connection with rendered services, a claim can be filed up to the full bond amount. The principal must reimburse the surety for any damages paid out.