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A contract bond is a guarantee the terms of a contract are fulfilled. If the contracted party fails to fulfill its duties according to the agreed upon terms, the contract “owner” can claim against the bond to recover financial losses or a stated default provision.  All contract bonds guarantee the performance and or payment of the obligations under contract. CLICK HERE TO GET STARTED

What is a bond for construction?  To protect against disruptions or unlikely events during a construction project, an investor may require a surety bond. This bond for construction will also protect any suppliers that fail to complete their work or if the project fails to meet the contract’s specifications. CLICK HERE TO GET STARTED

How does a construction bond work? 
The construction bond works for the obligee, typically a government entity, to protect a project from failing to get completed or not meeting the project specifications by the contractor who was awarded the job. This bond ties the contractor to the project and ensures their performance will meet the specifications. 
 CLICK HERE TO GET STARTED

What is a surety bond? 
A surety bond is defined as a contract among at least three parties: the obligee: the party who is the recipient of an obligation. the principal: the primary party who will perform the contractual obligation. the surety: who assures the obligee that the principal can perform the task.  CLICK HERE TO GET STARTED

How does a performance and payment bond work?
The performance and payment bond guarantees that the project will be completed as promised in the contact’s specifications and that all subcontractors and material suppliers will be paid in full, protecting the project owner.  CLICK HERE TO GET STARTED

What is a guarantee of performance?
A guarantee of performance is issued to a contractor by a band or insurance company as a promise to complete the project in full according to the contract plans and specifications. This is not to be confused with a project requiring a performance and payment bond which is issued by a surety market, and may require more extensive information about the project, contractor, and their history. CLICK HERE TO GET STARTED 

A project requiring a performance and payment bond typically require a bid bond that allows them to qualify to submit a bid for the project.

​Ready to start your application? 
CLICK HERE TO GET STARTED

A Robert J Russell Companies Website
  • Home Page
  • Auto
    • Auto Quote Request
    • Auto - Doordash Delivery Drivers
    • Auto - GrubHub Drivers
    • Auto - Uber & Lyft Drivers
    • Mexico Auto - 1
    • Mexico Auto - 2
    • Auto - Texas
    • Auto - Commercial
    • Commercial Auto & Trucks
    • Classic Car Insurance
    • Rental Car Insurance
  • Home
    • Condo Insurance
    • Home, Condo & Investor Request
    • Jewelry Insurance
    • Real Estate Investor
    • Lanlord Insurance
    • Mobile Home
    • Tornado Insurance
    • Flood Insurance
    • Renters Insurance
  • Life
    • Alabama
    • Alaska
    • Arizona
    • Arkansas
    • California
    • Colorado
    • Connecticut
    • Delaware
    • Florida
    • Georgia
    • Hawaii
    • Idaho
    • Indiana
    • Illinois
    • Iowa
    • Kansas
    • Kentucky
    • Louisiana
    • Maryland
    • Massachusetts
    • Maine
    • Michigan
    • Minnesota
    • Mississippi
    • Missouri
    • Montana
    • New Hampshire
    • Nebraska
    • Nevada
    • New Jersey
    • New Mexico
    • New York
    • North Carolina
    • North Dakota
    • Oklahoma
    • Ohio
    • Oregon
    • Pennsylvania
    • Rhode Island
    • South Carolina
    • South Dakota
    • Tennessee
    • Texas
    • Utah
    • Vermont
    • Virginia
    • Washington
    • West Virginia
    • Wisconsin
    • Wyoming
    • Final Expense Quotes
    • Burial Insurance
  • Health
    • Allstate Health
    • Blue Cross - Texas Health
    • Cigna Global Health
    • Pivot Health
    • Sidecar Health
    • Senior Market
    • Telemedicine
    • Disability Quote Request
    • Health Terminology
    • Pet Insurance
    • DP Brokers
    • Spirit Dental
    • Oscar Medicare Supplement
    • Morgan White Vision
  • Business
    • Apartment, Condo, Retail Insurance
    • Real Estate E&O Insurance
    • Bonds >
      • All Bonds Search
      • Commercial Bonds
      • Contract Bonds
      • Court Bonds
    • Businesses by Occupation
    • Business Owners Policy (BOP)
    • Crime Insurance
    • Cyber Liability
    • E & O for Insurance Agents
    • General Liability
    • Identity Theft Insurance
    • Professional Liability
    • Commercial Quote - All States
    • Special Events Coverage
    • Workers Compensation
  • Group
    • Group Dental & Vision
    • Group Health - 2+ Employees
  • Contact Us
    • Schedule an Appointment
  • Resources
    • Alamo Car Rental
    • Defensive Driving
    • E-File Tax Services
    • Insurance Forms
    • Make Your Own Will
    • Meet the Team
    • News
    • Now Hiring!
    • Personal Capital
    • Preferred Vendors
    • Testimonials
    • Video