Surety Bonds for Supply Bonds
What is a Supply Bond?
A supply bond is a bond used during construction projects which (as the name suggests) guarantees that supplies and materials will be provided, per contractual obligations, by the supplier. If the supplies are not provided as per the contract, the surety will step in and pay the principal for any losses and then seek reimbursement from the supplier. This bond is generally sought out by the project owner for a private project, or in the case of public projects, by the state or federal agency. It is important to note, that the supply bond covers delivery of supplies and not labor or installation.
Which industry requires a Supply Bond?
It is requested or needed during construction projects.
What happens if supplies are not provided, per contractual specifications?
The surety bond producer will step in, pay the principal for any losses and then seek reimbursement from the supplier.
Get a Supply Bond today!
1) Fill out the form on our website – this takes 30 seconds of your time and we will get back to you with a quote in less than 24 hours (oftentimes within the hour).
2) Call us directly at 781-559-0568 – we are here to help!