Construction Bond Types

Construction Bonds

A construction bond is a widespread type of Surety Bond. There are variety of construction bonds required for their respective purposes. These bonds are typically used to support laws (most often required by state, local or federal government bodies) such as license and permit principles. Click Here to know more about construction bonds.

Types of Construction Bonds

There are various types of construction bonds required by organizations as per their project / contract needs:

A bid bond is issued as part of a supply bidding process by the contractor to the project owner…

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A performance bond, also known as a contract bond, is a surety bond issued by an insurance company…

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A payment bond is a surety bond posted by a contractor to guarantee that its subcontractors…

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A Supply Bond is a type of contract bond that guarantees that the supplier will furnish supplies…

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A maintenance bond is not technically insurance, but basically functions as an insurance policy…

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A subdivision bond is a guarantee to a city, county, or state that a principal involved…

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A site improvement bond is a form of insurance that contractors purchase when doing an improvement…

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Contractor’s license bonds legally protect the following three parties: you, the contractor, the company…

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