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Three common types of contract bonds are:

October 9, 2017 at 10:00 AM
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Bid bond-The surety guarantees the beneficiary that if the principal is the successful bidder on a contract, the principal will enter into the contract with the beneficiary and provide the appropriate security in the form of performance and payment bonds. 

Performance bond- The surety guarantees to the beneficiary that the principal will perform its bonded obligations to the beneficiary under the bonded contract. 

Payment bond-The surety guarantees to the beneficiary that the surety will pay those persons/entities that supplied labor or material in connection with the underlying bonded contract should the principal fail to do so. 


Material posted on this website is for informational purposes only and does not constitute a legal opinion or medical advice. Contact your legal representative or medical professional for information specific to your needs.

Bonds - New Client Forms

  • Contractor’s Surety Questionnaire
  • Bank Reference Letter Instructions
  • Work in Progress Schedule
  • Personal Financial Statement
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  • Performance Bond Order

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For assistance with this bond request or specific questions regarding a bond, please contact one of our Surety Specialists during regular business hours at 888-BOND-REP.

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