What is a Performance Bond?
Why do I need a Performance Bond?
How much does it cost?
The cost of a Performance Bond will vary depending on the rates of your Bond Facility and the size of contract the bond is required for. Standard rates for Performance Bonds range from $6 – $25 per $1,000 of the contract price. Please don’t hesitate to give us a call if you’d like to discuss what determines a companies bond rates.
The ability to obtain any contract bonds (including a Performance Bond), as stated above, is part of an annual subscription called a Bond Facility which is typically in the range of $1,500 – $5,000 per year.