Payment and Performance Bonds | Payment Bond

	License and permit bonds are issued to the person who engage in particular business in order to obtain a license or permit.

	MVD bond guarantees compliance to the obligee against the default act of the dealer.

	The interstate commerce commission issues the interstate commerce commission bond in order to meet the requirements legally.

	Sales tax bond is imposed by the state and federal government regarding the payment of tax.

	Utility bonds are issued to perform the public utility service as per the ordinance of the state government.

	Mortgage broker bond guarantees the performance of the broker under the license broker code.

	Contactor license bond guarantee that the contractor will comply with the statutes and license of the state.

	Court bonds are issued to the fiduciary to perform his duty as per the court order.

	Surety bond is a guaranteed bond issued by the principal to the obligee regarding his guaranteed performance.

	Fidelity bonds are issued to protect the employers from the dishonest or negligent act of the employees.

	A bond issued in the U.S. and U.K. with a rate of return dependent upon a lottery style payout.

	Payment bond guarantees the subcontractor regarding the payment from the principal for the material and labor furnished.

Performance Bond

The Government requires performance bonds and payment bonds for projects to protect the tax payer’s investment. Common performance and payments bonds for government projects consist of building bridges and roads. If the contractor does not completion the project specified in the contract the surety bonding company will either pay for the completion of the project or hire a contracting firm to completion the project. The payment bond which usually issued along with the performance bond will make sure that all sub contractors and suppliers will be paid. For the government to award a contractor the project they must first bid on the job the government will evaluate the bids and ward the contract to the lowest bidder. We have many companies that can offer performance bonds for clients that are in the black as well as for contractors that are in the red.
For contracts over $250,000 please provide the last two years of CPA prepared financial statements work on hand, application and a copy of the contract. If you do not have a CPA financial statement we still can help but please give us a call. For contract bonds under $250,000 we have a simple two page performance bond application the only other information needed is a copy of your work on hand and contract. If you own real estate and your credit is preferred in most cases we should be able to obtain an approval within 24 to 48 hours.
This bond should not be confused with a contractor’s license bond the contractor license bond is for a contractor to become licensed with the state.
Performance and payment bonds are also known as Contract bonds since the bond coincides with contract. Performance bonds are also known as construction bonds.

Contractors that need this bond sometimes need a bid bond as well

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E-mail : INFO@integritybonds.com for details.

Surety Bonds by State. If you don't see the surety bond you need don't worry. We have the bond type your looking for, please contact us and we will e-mail or fax it to you.

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