What Are Contract Surety Bonds?
If you're bidding on a state or federal construction project, you'll often need a surety bond that guarantees your work to the government agency.
Any federal contract valued at over $150,000 requires it. Most state and local governments have the same requirements. Even many private owners require a bond for projects of a certain size. These bonds help owners reduce and transfer their own risk if contractors fail to perform their part of a project. You can learn more about how surety bonds work here.
Whether it's a parking lot, a school, or a hospital, surety bonds that are underwritten for construction projects are known as contract surety bonds. You may have also heard them called a contractor bond or construction bond.
How Do I Get A Contract Surety Bond?
Gray Surety specializes in underwriting surety bonds for contractors across the U.S. Our team has dedicated and advanced experience in analyzing surety bond submissions and providing creative underwriting options for contractors and the surety producers that represent them.
Producers and their associated agencies are an invaluable resource for guiding you through the surety submission process. If you're not already working with a surety agency, you can find one here.
The Surety Information Office also has more detailed information about the information you'll need to have when applying for a contract surety bond. Or, feel free to give our team a call at any time with questions. We can also direct you to surety producers in your area.
Our contract surety services
Gray Surety offers a variety of contract bonds, for every stage of a project's timeline. These include:
- Bid bonds
- Performance bonds
- Payment bonds
- Warranty, or maintenance, bonds
We're committed to helping you find responsible surety bond opportunities for your next project and beyond. When we say "yes" at Gray Surety, it's because we've rigorously analyzed the data and know that we can provide the support your contractors need.
Get In Touch
Ready to see if Gray Surety can get you to yes?
Give our team a call today to learn about our contract surety bond opportunities. Find all of our applications and forms for contract bonds on our Agent Resources page.