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A Performance bond is a bond that guarantees that contractors will complete their obligations regarding a construction agreement. This protects the property owner from contractor defaults on large-scare and public projects.

Performance bonds are becoming more common not only for private projects but also for large commercial projects. A Bid bond guarantees compensation if the bidder fails to begin the project. These types of bonds are used generally for construction projects. The Bid bond provides a guarantee that the bidder will complete the project if they are selected. Once the company has been selected, the Bid bond will be replaced with a Performance bond.

Here are some of the bonds we can provide:

• AIA A310 Bid Bond
• Bid or Proposal Bond
• EJCDC C-430 Penal Sum Bid Bond
• EJCDC C-435 Bid Bond
• Owner Bid Form – Power of Attorney Only
• Sandard Form 24 Bid Bond – US Federal
• US Dept. of Agriculture Rural Utilities Service Bid Bond
• Whiting-Turner Contracting Company Subcontractor Bid Bond

To find out more about our surety and other bond products and services, click here or contact Burris Insurance Agency today at 502-459-8880.