Generally provide to the owner (obligee) of a project, the financial security and the construction assurance that the contractor (principal) will perform the work and pay certain subcontractors, laborers, and material suppliers.

Bid Bonds
Guarantee that the surety bonding company will provide a performance bond if the contractor is awarded the job.

Maintenance Bonds
Maintenance Bonds provide for upkeep of the project for a specified period of time after a project is completed. These bonds protect against defective workmanship or materials.

Payment Bonds
Payment bonds cover payment of the contractor’s obligation under the contract for subcontractors, laborers, and materials suppliers associated with the project. Since liens may not be placed on public jobs, the payment bond may be the only protection for those supplying labor or materials to a public job.

Performance Bonds
Performance Bonds cover performance of the terms of a contract. These bonds frequently incorporate payment bond (labor and materials) and maintenance bond liability. This protects the owner from financial loss should the contractor fail to perform the contract in accordance with its terms and conditions.

Site Improvement Bonds
Ensures public property will be restored to its original form upon the completion of a private project.

Subdivision Bonds
Guarantees local authorities the completion of mandatory public improvements that builders & developers make to their own property.

Supply Bonds
Cover performance of a contract to furnish supplies or materials. In the event of a default by the supplier, the surety indemnifies the purchaser of the supplies against the resulting loss.