What is a Construction Performance Bond?
Before you win a construction project you want to get approved for a performance bond and a payment bond. These are a package deal. And you tend to get this approval when you're getting your bid bond.
This video will explain the performance bond so you know where it fits into the construction project process.
Use the timestamps below to skip around if you need to rewatch a specific part.
- 00:26 - What is a Performance Bond?
- 00:46 - Why a Performance Bond Can Be Activated
- 00:58 - How a Surety Can Use a Performance Bond Money
- 01:32 - How Much Does a Performance Bond Cost?
- 02:03 - How to Price Performance Bond Cost Into Bid Amount
- 02:14 - Scenarios When a Performance Bond May Not Be Needed
- 03:07 - How You Can Get Started With a Construction Bond Program
What is a Construction Bid Bond?
Learn what a bid bond is for a construction project and why you have to get one. Plus learn how to get pre-approved for the construction bonds you need.
What is a Construction Bond Program Or Bond Capacity?
Learn what a construction bond program is and why you should get pre-approved for a bond capacity limit. This will help you bid on more projects and win more too.
What is a Performance Bond in Construction
Learn the role or performance bonds in construction projects. Learn what the bond is, why it's required, and how you can purchase yours and save money!
Learn how a bid bond works for a construction project. Plus learn the other bonds you'll need to get approved for when you purchase your bid bond.
What is a Construction Payment Surety Bond?
If you're bidding on construction projects you will need payment bonds. Here's what a payment bond is and how you can get pre-approved for the bonds you need.
Can't find what you need?
Let our bond experts help!
Get Started »
No obligation, takes 2 minutes
If you'd prefer, call us at
