What is a Bid Bond?
Texas bid bonds are designed for competitive project bidding, such as in the construction industry. If a bid is offered to a contractor for a given project, for instance, a bid bond guarantees that the contractor will perform the work as outlined in the terms of the bid and according to the contract based on the bid.
Contractors in Texas get bid bonds because they’re inexpensive and don’t tie up cash or bank credit lines during the bidding process. Owners and general contractors also use bid bonds because they establish and confirm that the bidding contractor or supplier is qualified.
Texas bid bonds are initiated with a cash deposit, which contractors forfeit if they fail to perform according to the contracted terms. Winning bidders must also provide a performance and/or payment bond at their cost, which they will also forfeit in the event they do not execute their contract as agreed.
Bid bonds are FREE. Performance Bonds cost 3% of the total job with $0.00 hidden agency fees.
Purchasing Your Bid Bond
1. Click the Buy Now button.
2. Fill out the easy bond form.
3. Confirm your order and select how you would like your bond documents delivered. Email or regular mail.
4. If you chose to have your documents emailed, you will receive them within minutes.
It’s that simple and fast!
Pricing & Terms
Surety bond costs are a percentage of the full bond amount, which is usually determined by your personal credit. Providing industry experience, strong personal credit, and business/personal financials will help lower your bond rate. Reach out for a quote today.
Bond Purchase Process
1. Find Your Bond
2. Secure Pricing
3. Buy Online
Get Started
The bonding process can be confusing and cumbersome. Our surety bond experts are standing by and ready to answer any questions. Let’s get you bonded today!
Frequently Asked Questions
Looking to Get Started or Have Questions?
The bonding process can be confusing and cumbersome. Our surety bond experts are standing by and ready to answer any questions. Let’s get you bonded today!