Rates for Performance and Payment Bonds

RATES FOR PERFORMANCE & PAYMENT BONDS

Here is an outline of the typical rates we charge for contract bonds (Performance & Payment Bonds) based on various types of contracts.

The rates are shown as Standard Rates and Surcharged Rates. Standard Rates are typically offered for contractors who have a CPA prepared financial statement that demonstrates adequate financial capacity, have good credit and experience in the type and size of contracts being requested. Surcharged Rates are charged to contractors who do not have a CPA prepared financial statement (QuickBooks internal statement only) but meet all other requirements.

The Typical Rates for various classes of business are:

PREFERRED RATES

Contractors that have an exceptionally strong financial Statement might qualify for a Preferred Rate 20% LOWER than the above rates.

BID BONDS

There is no charge for Bid Bonds. In the case of a project where a bid bond is required, The Bond Agency charges only for the Performance & Payment Bonds when the contractor is low bid and awarded a contract. Note we may charge for a bid bond if the job specs indicate that only a bid bond (i.e. no performance bond) is required.

Note: These are rate examples only. Actual rates will be quoted only after you apply and receive bond approval. The rate we quote may be different from these examples. Nothing herein is meant to imply that bond approval is granted, nor a specific rate is available.