A performance bond guarantees that you'll complete a project according to the contract. On public works and many large private jobs in California, performance and payment bonds are required to be awarded the contract.
The project surety trio
- Bid Bond — submitted with your bid, guaranteeing you'll enter the contract if selected.
- Performance Bond — guarantees the project is completed per the contract terms.
- Payment Bond — guarantees your subcontractors and suppliers get paid.
Bonding capacity matters: sureties evaluate your financials, experience, and track record to set the single-job and aggregate limits you can bond. We help you build that capacity over time.
How performance bonds are priced
Premium is typically a percentage of the contract amount and depends on the project size, your financial strength, and your history. Stronger contractor financials earn lower rates and higher capacity.
Get a project surety quote
Tell us about the project and your business, and we'll connect you with the surety markets best suited to your work.