Maintenance Bonds are usually part of a performance and payment bonds, wherein a one year guarantee is implied. Separate maintenance bonds are often required if the maintenance guarantee in the contract exceeds one year. These Bonds are limited guarantee against defective materials or workmanship.

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 is usually within 24 to 48 hours depending on the amount of the bond.