A contract is a surety bond that ensures the contractor will work according to the instructions laid out in the contract. In the case that the contractor does not fulfill the obligations in the contract, the bonding company is liable and must pay the owner.
Contract bonds are sometimes referred to as Construction Bond. A construction bond is simply a general term used to describe the many different bond types that make up a construction project contract from start to finish. This is why you will often times hear ‘construction bond’ and ‘contract bond’ used interchangeably. A contract bond allows bonding for many of the business market’s different sectors, and include:
- Bid Bond
- Maintenance Bond
- Payment Bond
- Performance Bond
- Site Improvement Bond
- Sub Division Bond
- Supply Bond
Applying for a Construction Bond
There are many Contract surety bonds, and each state has different regulations regarding requirements, amounts and types. We can get you the contract surety bond you need despite your credit history, the amount you need or the state in which you live.
Contact us at (888) 465-2555 or Apply Online today!