Bid Bond

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What does the bond cover?

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.

Who needs this bond?

Contractors bidding on projects may be required to submit a bid bond to guarantee they can execute the contract at their stated bid.

How much does this bond cost?

With South Coast Surety, we offer a flat annual fee of $350 to fulfill all Bid Bonds for your business. Hopefully you are bidding on many contractor jobs per year, and winning lots of them. We are here to help you through each entire project, including Payment and Performance Bonds and other final bonds like Warranty Bonds.

How do I apply?

Give our Contract Bond Team a call at 1-800-361-1720 with any additional questions and they can get working for you today on your Bid Bond. Or you can fill out this application below and send it to contract@southcoastsurety.com.

With South Coast Surety, we offer a flat annual fee of $350 to fulfill all Bid Bonds for your business. Hopefully you are bidding on many contractor jobs per year, and winning lots of them. We are here to help you through each entire project, including Payment and Performance Bonds and other final bonds like Warranty Bonds.

Give our contract bonding team a call today at 800-361-1720 to get started talking about your upcoming project and contract bonding line. Or fill out the application below and a contract surety expert will reach out to you today.

What Is a Bid Bond?

"The bid bond assures that the bid is submitted in good faith and that the contractor will enter into the contract at the price bid and provide the required performance and payment bonds." (Source: NASBP.org)

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.

Bid Bonds

What Our Customers Have to Say

I have processed 2 defective title bonds through South Coast Surety and I am the type that gets worried for any little detail and want to make sure everything is done correctly the first time to prevent double work for myself and everybody. Knowing how I am both times I had to call customer service and they answered every little question I had in a very nice and gratifying way that made me feel I would not have any problems in which I did not. South Coast Surety has the ultimate best customer service.

5 Star Review

Gaby - CA
May 2019

Quotation Mark

I was shopping for a surety bond for the first time and having trouble communicating with several different companies. When I contacted South Coast Surety they responded quickly and performed the transaction quick and easy. I might have been able to find a lower price, but their professionalism was worth a couple extra dollars.

5 Star Review

KG C. - CA
April 2019

Quotation Mark

We are opening up a Mental Health Residential Treatment Center and needed a Surety bond since we will be handling some clients cash resources. I reached out to South Coast Surety, they sent me an application, paid our premium and had our bond sent to us immediately. Everyone I spoke to and emailed was courteous, attentive and responded very quickly. We will most definitely continue to get all of our bond services from South Coast.

5 Star Review

John F. - CA
September 2021

Quotation Mark

Great customer service from South Coast Surety. When I had questions about the bond and process, their customer service team assisted me with a sense of urgency and answered my questions. I recommend using their services. I will be a returning customer.

5 Star Review

P&C B. - CA
April 2021

Quotation Mark

I needed a surety bond and was referred by another company to south coast. I am very impressed with the level of customer service in every stage of issuing the bond, the rapid response to the get the bond issued and communication with the team. Great team and awesome service. I highly recommend South Coast Surety for you bond needs.

5 Star Review

Mirwais A. - CA
March 2021

Quotation Mark

I was in need of obtaining my CA Insurance Bond. I was able to obtain my required Bond quote online within minutes. I approved the quote and requested the Bond to be issued. On the same day, I received the Evidence of Coverage. Could not ask for better pricing or better service. I highly recommend South Coast Surety to meet a wide range of Bonding needs.

5 Star Review

Udo G. - NJ
January 2018

Quotation Mark

Celebrating 25 Years of Committed Surety Service

South Coast Surety has been proudly providing surety support to all fifty U.S. states for twenty years. Starting out as a small agency with a dream in San Clemente, California, we have steadily grown into one of the largest bond-only agencies in the nation. We write all commercial bonds and contract bonds for every American business and industry. Our greatest achievement is helping our clients grow their business alongside our own through coaching and obtaining larger bonding limits at the best rates. We work hard for our clients and take pride in bonding businesses that have been declined by our competitors.

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