Contract Bond Programs

SOUTH COAST SURETY has been providing Contractors and Developers Responsive and Responsible Contract Bond and Sub-Division Bond Support for 2 decades

Bid Bonds
A Bid Bond is issued by the Surety to the owner of the project in lieu of a required cash deposit. The cash deposit (usually 10% of the bid amount) is subject to full or partial forfeiture if the contractor is the low bidder and fails to either execute the contract or provide the required Performance and/or Payment Bonds. In other words, the bid bond assures and guarantees that should the bidder offer the low bid, the bidder will execute the contract and provide the required surety bonds.

Use the same applications as Performance / Payment Bonds

For Small Contracts under $400,000 See Below

Performance / Payment Bonds

South Coast Surety provides contract bonds:
bid, performance, labor and material payment, and maintenance for all size contractors.

Contract Surety Bonds for:
Construction Contractors, Construction Subcontractors, Supply Contracts and Service Contractors

For the Contractor Experienced in using contract bond support, South Coast Surety can review your current support levels and rates.

Our review will confirm that you presently have the best program available
or that we can improve on your surety bond support.

Subdivision Bonds
Site improvement, plat, completion, or simply performance bonds

The key difference between subdivision bonds from regular contract performance bonds is that the owner/developer (the principal) has to pay the cost of building the bonded improvements rather than the public agency (the obligee).

Not all sureties write subdivision bonds.

South Coast Surety and the surety companies we represent are well experienced in providing developer bond support.

Click Here for your Subdivision bond applications

REQUEST CONTRACT BOND LINE REVIEW

For the Contractor just looking for construction bond support, South Coast Surety will provide you the tools and information needed to attain a surety bond line of credit.

We will assist and guide you in qualifying for the most support at the least rate

STANDARD PROGRAM REQUIRED INFORMATION PAGE

 Easy Contract Express Bond Program
Small and Medium Contract Bond for All States Easy Qualify Surety Bond Program

 **NEW INCREASE**
For Contract Bonds
$400,000 Single
$800,000 Aggregate
Quick Response with In-House Authority
marginal credit can be supported
 

• Simple Construction Bond Application
• Easy Financial Information Requirements
• Fast Approvals and Contract Bond Executions
• Available in most states

For Information on the Contract Express Program Start Here

For the Contract Express Bond Application Click Here

Basic Underwriting Requirements are:
Good Personal Credit
3 Year Experience in this field
Projects that can be completed in 36 months or less
No excessive warranty periods
or excessive Liquidated Damages
Project size within the size & scope of the normal projects
the contractor has completed or supervised

  See index for more programs