Questions tagged performance-bond

Performance bond: 3 questions across all categories.

3 questions

0 votes2 answers11 views

QuestionWhy does the surety want my personal financial statement and net worth before writing a bid bond?

I'm trying to bid on a county road paving job, NAICS code 237310. It's an Invitation for Bid (IFB) and the deadline is next month. The county...

bid-bond performance-bond construction

Jordan P.asked 15h ago

4 votes2 answers5 views

QuestionWhat is a performance bond, and what does the surety look at before writing one?

A performance bond guarantees to the owner that the contractor will complete the project according to the contract terms and conditions. The school...

performance-bond payment-bond construction

Jo R.asked 1d ago

5 votes2 answers8 views

AnsweredHow much does a performance bond cost, and does the rate drop once you have a few jobs done?

Your performance bond rate will drop once you have a few jobs done, especially if they are similar in size and scope to the city park project. The...

performance-bond construction small-business

Jo R.asked 1d ago