Bid Bond
A Bid Bond is often required of a contractor for a specific project. The bond amount is a percentage of the total bid on project, typically 10%. The Bid Bond provides the owner of the project with some assurance that, if the contractor is ultimately awarded a contract based on his bid, he will enter into a contract with the owner of the construction project. In short, a Bid Bond is a guarantee that the bond holder will perform the work they have bid on.
Contact an insurance agent at Bob Wallin Insurance today to answer any questions about getting a Bid Bond.
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Call (360) 734-5204 today for a Bid Bond insurance quote.
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