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Performance Bond

Performance Bond

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Who Requires the Performance Bond and Why Is It Needed?

A performance bond is a type of contract surety bond that guarantees satisfactory completion of a project under agreed upon terms by a contractor. In the event of default, the project owner may file a claim allowing for payments to a substitute contractor brought in to complete the job. Performance bonds are required on most federally funded projects. Most projects requiring performance bonds will also require a bid bond.

Sometimes surety bonds for licenses or permits are also called "performance bonds". You can still request a quote for these from the quote request form on this page and our bond specialists will locate the right bond for you. Or to learn more about non-contract performance bonds, give us a call or use our search feature at the top of this page to find more information on your specific surety bond need. When searching, it is helpful to type in your business activity because bond names are categorized this way.

How Much Will My Surety Bond Cost?

Take 2 minutes to provide the basic information required to get the best rates for your Illinois Performance Bond. The quote request is free and there is no obligation to you. If you prefer, please call 1‐800‐608‐9950 to speak with one of our friendly bond experts. We can help guide you through the bonding process and identify the lowest cost in the market for your situation.

If you are interested in spreading out the cost of your bond over time, we can offer convenient financing plans for many types of surety bonds. More information will be provided with your quote.

List of Illinois surety bonds.

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