Bid Bonds
What is a Bid Bond?
Public Statutes which authorize the letting of Public Contracts usually require that a Bidder shall evidence their good faith by filing with their bid a Bid Bond from an acceptable Surety Company.
The Bid Bond represents that they will enter into the contract if it is awarded to them, and provide the required Performance & Payment Bonds. If a Bidder is awarded a contract but elects not to enter into contract, the Bid Bond obligates the Surety to pay the difference between the contractor’s bid and the bid of the nearest acceptable bidder to a maximum of the Bid Bond Penalty, whichever is lower.
A Bid Bond is usually required in a penalty which is small in relation to the contractor’s bid, generally from 5 percent to 30 percent. Bid Bonds help to prevent contractors from submitting frivolous or inappropriately low bids to win a contract.

Michael F. Metayer, President & CEO

One Wall Street Building Conversion: Project Bond Amount $940MM
Our Bond Companies
Listed below are examples of the bond companies we work with.









TYPES OF CONSTRUCTION AND COMMERCIAL SURETY BONDS
- Bid Bonds
- Performance and Payment Bonds
- Contractor Surety Bonds
- License and Permit Bonds
- Release of Mechanic’s Lien Surety Bond
- Subdivision and Site Improvement Bonds
- Connecticut Performance and Payment Surety Bonds
- New York City Performance and Payment Surety Bonds
- Understanding New York City Bid Bonds
- Understanding New York City Contractor Surety Bonds

TYPES OF CONSTRUCTION AND COMMERCIAL SURETY BONDS
- Bid Bonds
- Performance and Payment Bonds
- Contractor Surety Bonds
- License and Permit Bonds
- Release of Mechanic’s Lien Surety Bond
- Subdivision and Site Improvement Bonds
- Connecticut Performance and Payment Surety Bonds
- New York City Performance and Payment Surety Bonds
- Understanding New York City Bid Bonds
- Understanding New York City Contractor Surety Bonds
- Court Bonds
- Financial Guarantee Bonds
- Massachusetts Paid Family Medical Leave Bonds
- Connecticut Paid Family Medical Leave Bonds
- Crumbling Foundations
- Marijuana Bonds