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
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
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.
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
For Contract Bonds
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