How to Get A Government Contractors Bond
Competing, Bidding, or Already Low on a Government Project?
Planning on or already awarded a government project? You will need a payment and performance bond (standard form 25). Surety specialists at American Surety Bonds Agency have over 25 years experience and are here to help you get bonded quickly.
If you are bidding on federal projects that are over $100,000 in contract value you will have in most cases a requirement of bidding on federal projects with a bid bond (20%) (standard form 24). In some cases, the contracting officer of a project may require a bid bond and a payment and performance bond even if the project value is under $100,000.
What Type of Contractor Bonds Are Required By The Government?
The Miller Act requires contractors bidding on a federal project to post both a performance bond and a payment bond.
– Payment Bond: guarantees subcontractors and vendors are paid for work performed under the contract.
– Performance Bond: ensures the project will be completed according to the terms of the contract.
How Can We Help?
Our agents are knowledgeable in the all federal, state, and local regulations and able to fulfill all your bonding needs. As a member of the U.S. Small Business Association (SBA), we provide bonding support for businesses through the Surety Bond Guarantee (SBG) Programs including:
– 8-A and Minority Owned Business Enterprise (MBE)
– Native American Tribal Owned Corporation (NATOC)
– Service Disabled Veteran Owned Small Business (SDVOSB)
– Small Disadvantaged Business (SDB)
– Veteran Owned Small Business (VOSB)
– Woman Owned Business Enterprise (WBE or WOSB)
Our mission is to help contractors get bonded quickly and easily. If you are a contractor for a government funded construction project and need a contract bond, contact a surety bond agent by calling (877) 201-8976 or you can submit an online application.