Bid Bond
Contract surety bond — what it is, what it costs, and how to get one.
Get notified when we openWhat is a bid bond?
A bid bond is a contract surety bond submitted with a construction bid. It guarantees that, if you win the project, you'll honor your bid price and provide the required performance and payment bonds. It protects the project owner from contractors who back out after being awarded the job.
Who needs a bid bond?
Contractors bidding on public works and many private construction projects.
How much does a bid bond cost?
Bid bonds are frequently issued at little or no charge as part of establishing your bonding capacity.
How to get a bid bond
Set up a bonding relationship, request the bid bond for your specific project, and submit it with your bid.
Frequently asked questions
There's usually no premium to refund; it simply expires if you aren't awarded the contract.
The owner can claim the bid bond to cover the cost of re-bidding.
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We're not issuing bonds yet. Leave your details and we'll reach out as soon as Sunset National Insurance Company is licensed.
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