American Surety Bonds Agency, LLC provides simplified and fast underwriting for all Maintenance Bonds.
What is a Maintenance Bond?
A Maintenance Bond is a type of contract bond that guarantees the Principal will maintain the project and correct any defective workmanship after the project is complete.
What are the underwriting guidelines?
Maintenance Bonds are underwritten using the following criteria:
- Bid Amount
- Personal and Corporate Credit History
- Personal and Corporate Net Worth
- Personal and Corporate Assets
- Total Work on Hand
- Previous Experience
- Scope of Work
How much does the bond cost?
American Surety Bonds Agency has many programs in place for Maintenance Bonds. Programs start at less than 1% of the contract amount and range upwards depending on the underwriting guidelines.
Contact us today to find out which program you qualify for.
How do I apply for a Maintenance Bond?
There are two ways to apply for a Maintenance Bond: Fast Track or Traditional Bond Kit.
- Fast Track Application—A Fast Track application can be used for projects or contracts under $250,000. Fast Track applications rely heavily on personal credit history.
Simply complete the Fast Track application and submit with the following items:
- Bond Kit Application—A traditional Bond Kit application can be used for all contract regardless of size or scope of work.
Simply complete the Bond Kit application and submit with the following items:
- Copy of Contract or Bid Specs
Who can I contact for more information?
MM, Senior Underwriter
Are there any other bonds I might need?