- Licensed in MD, PA, VA, OH and FL
- Electronic bond delivery when available
If a project requires a bid bond, send us the bid specs and the bond form as soon as you decide to bid. We’ll check the details and tell you what the surety needs for a quote.
A bid bond is a surety bond that backs a contractor’s bid. It shows the project owner that the contractor intends to enter the contract if awarded the job and to provide the required final bonds.
A bid bond is usually a promise that you will provide performance and payment bonds if you win. The surety issuing the bid bond is usually thinking about whether it is willing to issue the final bonds too.
That is why bid bond underwriting often looks like the start of a larger bond relationship.
The owner sets it in the bid documents, often as a percentage of the bid or a stated dollar amount. Use the amount in the bid documents.
Read the bid package carefully. The form, the amount, and the delivery instructions matter, and a mistake can get a bid rejected.
A bid bond applies while you are bidding. A performance bond applies after award and guarantees performance of the contract.
See Performance Bonds and Payment Bonds for the final bonds.
Bid bonds are often provided as part of an established surety relationship, so the price can look different from other bonds. For a contractor without that relationship, they will decide how to price it.
The price depends on the contractor, the project, and the surety. We cannot give a price until we see the bid documents and your information.
Often, yes, along with other information, especially if you are new to bonding or the job is large. Smaller bids may be simpler.
If credit is an issue, tell us up front. The options depend on the bid size and the surety markets available.
Send the bid information as soon as you decide to bid. The most useful items are:
It depends. A simple request from a contractor the surety already knows can move quickly. A new account, a larger job, or an unusual bond form can take more time.
Send the request as soon as you decide to bid. The right time to work on bonding is before the bid is due.
If this is not the bond you were asked for, these pages may help.
Yes for public work. States and local governments set their own rules and forms, and federal work follows federal rules. Private owners can set their own requirements.
Send us the bid documents and bond form. We’ll tell you what the surety needs next.
The Bond Agent | 3655A Old Court Rd, Suite 13 | Baltimore, MD 21208
