Bid Bonds Insurance, explained.
Required to bid most public projects — guarantees your number if you win.
Bid Bonds
A bid bond is a surety bond that accompanies a contractor’s bid on a project. It guarantees that, if awarded, the contractor will enter the contract and post the required performance and payment bonds.
Most public agencies — and many private GCs — won’t even open a bid without a bid bond. The bond is the price of admission.
Is this for you?
Inside a Bid Bonds policy.
When this coverage pays off.
Public-works bid
A municipal project requires a 10% bid bond with the proposal. We issue and you submit on time.
GC bid bond requirement
A larger GC requires bid bonds from subs over a threshold. We provide them on demand.
Building bonding capacity
We work with you on financials and history to grow your aggregate bonding line.
Plain-language answers.
Many sureties provide bid bonds at no fee with the expectation of the final bonds if the bid wins.
The bond can be called — the surety pays the difference between your bid and the next bid, then collects from you.
Surety reviews financials, history, and the size of jobs. We help you build a bonding profile that grows your capacity.
Ready for a Bid Bonds quote?
Fill the short intake form and we’ll shop across multiple carriers, or call us and we’ll get you a quote on the phone.