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>Contractors Certificate of Insurance
– Surety Bond
SafePro Insurance Services
offers all types of contractors bond including Contractor’s License, Performance & Payment,
Subdivision and Permit Bonds. Competitive pricing is available for contractor
bonds of all types. Contractors bonds are provided by A rated insurance
markets. A short and easy bond application is needed for obtaining contractors
premium quotes. Some carriers do require financial statements as well.
For additional information on contractor license bond or any other types
bond, please call our office contractors bond department. There are three
parties to a surety bond; Principal (customer), Obligee (the party to
example; state, city, county, municipality, individual, company) and the
third party is Surety (the company that provides the bond-insurance
company and or
financial institution having authority to issue surety bonds).
Contractor license bonds are required by state provide public protection.
- Bid Bond
Bid bond is filed with a bid for a construction project.
When the contractors has a low bid and has been awarded the project,
the bid bond guarantees
that the contractor will provide the required performance bond.
- Performance Bond
Performance bond is a type of surety bond that guarantees the completion
of a project. Performance bond is issued by an insurance
company or state authorized
- Payment Bond
Payment bond is filed by a contractor to guarantee that the his/her
suppliers and subs will be paid.