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Bonds

A way to guarantee your work with confidence.

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You know your work is solid. A surety bond will back you up.

A surety bond is a guarantee that your business will be able to deliver on a designated project. Commercial surety bonds are generally required by state laws and statutes, and guarantee some aspect of a principal’s occupation. A contractor license bond, for example, guarantees the contractor will comply with required construction codes.

4 Most Common Types of Surety Bonds

  1. Bid Bond: Ensures the bidder on a contract will enter into the contract and furnish the required payment and performance bonds if awarded the contract.
  2. Payment Bond: Ensures suppliers and subcontractors are paid for work performed under the contract.
  3. Performance Bond: Ensures the contract will be completed according to the terms and conditions of the contract.
  4. Ancillary Bond: Guarantees other factors that are incidental and essential to the performance of a contract. 

There are many other types of commercial surety bonds. Professional Solutions can help you find the one you need. 

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