Contract Surety Bonds for Construction Contractors
Contract surety bonds protect project owners and ensure contractors meet their obligations. Quantum Surety provides all three types of contract bonds required on public and private construction projects.
Bid Bonds
A bid bond guarantees that a contractor will enter into a contract at the bid price if selected. Required on most public construction projects. We issue bid bonds same-day for qualified contractors.
Performance Bonds
A performance bond guarantees that a contractor will complete the project according to the contract terms. Required on federal projects over $150,000 under the Miller Act, and on most state and municipal projects.
Payment Bonds
A payment bond guarantees that a contractor will pay subcontractors, laborers, and material suppliers. Typically issued alongside a performance bond on public projects.