Contract Bonds

What is a Contract Bond?

Construction Bonds, Contract Bonds, SBA Bonding

Contract bonds are a type of surety bond that must be filed with the owner of a project (the “Obligee”) as a condition for the contractor to bid on or to enter into a contract. Contract bonds consist of two primary categories – (1) bid bonds required of contractors as a condition for a contractor …

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What is a Bid Bond?

Contract Bonds, SBA Bonding

Bid bonds are a subset of the broader category of Contract bonds that must be filed with the project owner or government agency soliciting bids for public or private construction contracts. Bid bonds provide the project owner with security that the winning bidder will sign the contract and meet the requirements of the bid specifications. …

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