What a performance bond does
The surety guarantees you will complete the contract. If you default, the surety finishes the work or pays to have it finished. Owners, municipalities, and GCs require this on nearly every public job in Ohio and on many private ones.
You cannot mobilize on most public work until the performance bond is on file. That is why capacity matters before you bid, not after award.
Capacity, not just one job
A single performance bond is only useful if the next one still fits. We set programs around work-on-hand and the size of work you want to bid next — not last year’s limit.
If your current surety will not stretch, we shop a higher line. More bonding capacity is the brief.
What it costs
Most contractors pay about 0.5% to 3% of the contract amount. Credit, experience, work on hand, and the surety’s appetite set the rate. Use the estimator on the quote page for a ballpark. Underwriting sets the real number.
Payment bonds are usually issued with the performance bond as a P&P package.
Before you call
Send the job
Call or text (440) 539-6684, or request a quote. Text is usually fastest. Voicemail is fine.