This bond requires the contractor to submit the lowest bid on a particular project. On refusal by the contractor to undertake the project, the developer is entitled to the difference between lowest and the next lowest bid. The Bid Bond ensures that the contractor undertakes projects seriously and fulfills his obligations completely.
We underwrite this bond based on credit, experience and references and approval of this bid bond program are usually within 24 to 48 hours depending on the amount of the bond.
To Issue a Bid Bond:
1- Fax in a signed Application to 713-785-2711
2- Copy of the Bid Contract Specification or any related documents of the job
3- Fax in a Signed Financial Statement for Bonds over $250,000
