(Bid and Performance Bonds for Contracts up To $250,000)
Streamlined Questionnaire, Flexible Underwriting, Minimal Paperwork, Competitive Rates, Quick Turnaround The "UNDER $250,000" Performance Bond Program for contracts up to $250,000 is aimed at emerging contractors who have never had or infrequently need a contract bond. This program relies on your personal credit reports rather than on expensive CPA prepared financial statements.
The bond company will order a personal credit report on the owners of the company. The credit report shows a score for the personal credit of each owner. If the score meets or exceeds a score set by the bond company, the contractor qualifies for bid or performance bonds to cover contracts to $250,000 in contract price.
To apply for this program, please complete the
$250,000 program application. Page 2 only needs to be completed if you want a $250,000 single job and $500,000 work program limit.
In general, the premium rate is 3% of the contract amount. Other rates are availiable through our Standard Construction Bond Program.