Contract Bond | Surety BondContract Bond Application
Type of BondIn the course of this agreement, the surety agrees to make the obligee complete (usually by payment of money) if the principal defaults in its performance of it is assure to the obligee. The agreement is formed to encourage the obligee to contract with the principal, i.e., to make obvious the credibility of the principal. Suretyship bonds started hundreds of years ago as a mechanism from side to side which trade over long distance could be encouraged. They are often used in the construction industry: in order to get hold of a contract to build the project, the general contractor (and repeatedly the sub-contractors as well) must make available the owner a bond for its performance of the terms of the contract. On the contrary, owners as well as contractors might also provide payment bonds to ensure that subcontractors as well as suppliers are paid for work done. We can also help you with contractor license bonds
Program: Our agency currently has several specialty programs that can help you place your Contract Bond.
Contract Bonds are an extension of credit, like a loan your rate will be based upon your credit situation. Most surety agencies will decline your bond submission if you don't have a 700 credit score, but our company is different. We can help you in almost any credit or financial situation. Our rates start at 1% to 3% for most surety bonds. If your credit has taken a beating the rates start at 4% to 25%.
Always check with the "Obligee" for details
Our application process for a Contract Bond is easy. You can apply for the Contract Bond Application .Find this bond for another state
Obligee InformationAn obligee is the entity that is requiring you to have the Contract.
|State||Surety Bond type||Bond Amount||Obligee||More info|
|License Permit||Contract Bond||License Permit Contract Bond|
|Louisiana||Contract Bond||$5,000||Louisiana Public Service Commission||Louisiana Contract Bond|