1 votes2 answers8 views
I'm an electrical contractor, NAICS 238210, with ten years of private sector experience, a good crew, and all the equipment I need. I'm trying to get...
Priya S.Verified vendorasked
Questions tagged performance-bond
Performance bond: 5 questions across all categories.
5 questions
4 votes3 answers12 views
QuestionWhat is a payment bond, and does my sub get paid by the surety if I run out of money mid-job?
We picked up a school district roof replacement job, NAICS 238160. It's a firm-fixed-price contract. They asked for a performance and payment bond. I...
1 votes3 answers24 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...
6 votes2 answers17 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...
5 votes2 answers11 views
A surety will also want to see a detailed business plan, résumés of key personnel, and bank and credit references from a company seeking its first...