A Contractor Bond is an insurance that makes sure that you, the contractor, is able to finish the contract to the satisfaction of the client. If you are unable to perform the duties set out by the contract then the bonding company will provide compensation to the client.
RoofersLiability.com has been providing Roofers with bonding solutions for years. We have a full range of bonding options available to protect your clients and your company from financial loss.
You can speak to a live agent about our bonds by calling 800-369-3703.
Types of Contractor Bond Available:
- Bid Bond – This makes sure that you, as the bidder, will be able to complete the contract at the price that is agreed upon.
- Payment Bond – This makes sure that you are able to pay your workers, suppliers, and subcontractors at the completion of the project.
- Performance Bond – This makes sure that you are able to complete the project under the terms of the contract.
- License Bond – This assures your clients that you meet or exceed the regulations set forth by federal, state, and local governments.
When Do You Need a Contractor Bond?
Any government contract of $100,000 or more requires that you have the right bonding in order to even bid on the contract. Nowadays private companies are adopting the same requires to ensure they are not held responsible for any financial loss.