Contract Bonds

• Bid Bond - Guarantees that if contractor is low bidder and awarded the job, they will enter into contract and provide Performance / Payment Bonds.
• Performance Bond - Guarantee that contractor will perform in accordance with contract specifications.
• Payment Bond - Guarantees that contractor will correct any defects in workmanship for length of warranty period

Bond Programs under $350,000 - Contractors seeking to bid jobs under $350,000 can pre-qualify by simply completing an application. Occasionally, additional information such as a personal statement may be required.

Bond Programs over $350,000 - Contractors seeking larger job programs must submit a complete financial package including the following items:

• Contractor Questionnaire
• 3 years corporate financial statements
• Personal Financials / tax returns
• Bank line of credit letter
• Current receivable aging schedule