An Infrastructure Surety Bond is a contract surety bond that guarantees the performance of a contractor on a specific infrastructure project. The bond issuer agrees to pay the obligee, typically the owner of the project, for any losses suffered due to the contractor’s failure to meet the terms of their contract.

Call: (844) 612-7238

Construction projects, by their very nature, are complex undertakings. There are many moving parts and often multiple contractors involved. This can make it challenging to track who is responsible for what and to identify where potential problems may lie.

One way to help ensure that a construction project runs smoothly and according to plan is to require all contractors to obtain an infrastructure surety bond. This type of bond is a financial guarantee that the contractor will perform their work as specified in the contract. If the contractor fails to do so, the bonding company will pay damages up to the bond amount.

Performance Bond

Infrastructure Perfomance BondA performance bond is a type of surety bond that guarantees the completion of a construction project according to the contract terms. Performance bonds are typically issued by a surety company and are required by many public and private entities in order to protect themselves from financial loss if a contractor fails to complete their work.

Bid Bond

A bid bond is a type of surety bond that is typically required in order to submit a bid on a construction project. The purpose of the bond is to guarantee that the contractor will enter into a contract with the owner if their bid is accepted. In some cases, the bid bond may also be used to help finance the project by providing a source of funds if the contractor cannot obtain financing from other sources.

Payment bond

A payment bond is a type of surety bond that guarantees that contractors and subcontractors will be paid for their work on a construction project. Payment bonds are typically required by public entities to protect against the risk of non-payment. In some cases, private entities may also require payment bonds to ensure that they can recoup their investment if the project is not completed.

Improvement bond

An improvement bond is a type of surety bond that is typically required to make improvements on a property. Improvement bonds are typically issued by a surety company and are used to guarantee that the contractor will complete the work as specified in the contract. If the contractor fails to do so, the surety company will pay damages up to the bond amount.

Subdivision Bond

A subdivision bond is a type of contract bond that guarantees the completion of public improvements in a subdivision, such as streets, sidewalks, and sewers. The developer typically purchases the bond to satisfy a requirement imposed by the municipality.

Like other types of contract bonds, a subdivision bond is a three-party agreement. The obligee is the municipality that requires the bond. The principal is the subdivider or developer who purchases the bond. The surety is the company that issues the bond and guarantees its performance.

Contract Bond

A Contract Bond, also known as a Bid Bond, is a type of surety bond used in the construction industry. It is a three-party agreement between the Owner, Contractor, and Surety company. The purpose of the Contract Bond is to protect the Owner from financial loss if the Contractor fails to perform according to the terms of the construction contract. The Contract Bond also provides a financial guarantee that the Contractor will complete the project.

Labor and Material Bond

A Labor and Material Bond is a type of surety bond used in the construction industry. It is a three-party agreement between the Owner, Contractor, and Surety company. The purpose of the Labor and Material Bond is to protect the Owner from financial loss if the Contractor fails to pay for labor and materials according to the terms of the construction contract. The Labor and Material Bond also provides a financial guarantee that the Contractor will complete the project.

Infrastructure Surety Bond

An Infrastructure Surety Bond is a type of surety bond used to finance the construction of public infrastructure projects. The bond is typically issued by a surety company and is guaranteed by the full faith and credit of the government entity. The purpose of the Infrastructure Surety Bond is to protect the taxpayers from financial loss if the contractor fails to complete the project. The Infrastructure Surety Bond also provides a financial guarantee that the contractor will complete the project.

Construction Surety Bond

Construction Surety BondA construction surety bond is a three-party agreement between the Owner (obligee), the Contractor (principal), and the Surety company providing a financial guarantee that the project will be completed according to the contract documents.

The purpose of a construction surety bond is to protect the Owner from financial loss if the Contractor fails to perform the contract per its terms and conditions.

Surety Bonds for Road Improvements

A vital component of any road improvement project is the construction surety bond. The purpose of the bond is to protect the municipality from financial loss if the Contractor fails to perform according to the contract documents.

Paving Bond

A paving bond is a type of construction surety bond that guarantees the completion of a paving project according to the contract documents.

Paving bonds are often required by municipalities as part of the bidding process for public works projects. The municipality requires the Contractor to post a paving bond to guarantee that the work will be performed per the contract documents.

Road Construction Bond

A road construction bond is a type of construction surety bond that guarantees the completion of a road construction project according to the contract documents.

Road construction bonds are often required by municipalities as part of the bidding process for public works projects. The municipality requires the Contractor to post a road construction bond to guarantee that the work will be performed by the contract documents.

Highway & Transportation Construction Contractor Surety Bond

A highway & transportation construction contractor surety bond is a type of construction surety bond that guarantees the completion of a highway or transportation construction project according to the contract requirements.

Highway and transportation construction bonds are often required by municipalities as part of the bidding process for public works projects.

Government Contract Work Bonds

A government contract work bond is a type of construction surety bond that guarantees the completion of a government contract according to the contract documents.

Government contract work bonds are often required by municipalities as part of the bidding process for public works projects. The municipality requires the Contractor to post a government contract work bond as a guarantee that the work will be performed in accordance with the contract documents.

In conclusion, an Infrastructure Surety Bond is a critical component of any public infrastructure project. The bond protects the municipality from financial loss if the contractor fails to complete the project. The bond also provides a financial guarantee that the contractor will complete the project.