My Construction Payroll's Payment and Performance Surety Bond relieves you of the stress that comes with meeting your contractual obligations. Give yourself, your suppliers and your subcontracts the peace-of-mind that comes with knowing that all payments for labor and materials will be paid on time and all of your contracts honored.
Having a Payment and Performance Surety Bond is a contract requirement. Contractors that are awarded a contract through the bid bond process for such projects as a state Department of Transportation (DOT) project, or a Federal project (AIA), are typically required to obtain a payment and performance bond.
My Construction Payroll has surety bond programs in place for:
Bid Bonds - give your potential clients the comfort of knowing that you’re submitting a serious bid, allowing them to collect the difference between your winning bid and the next highest, in the event that you win the bid and then back away from the job.
Payment Bonds - In the event that you can’t complete the project due to bankruptcy, our payment bonds provide guaranteed reimbursement to workers and service providers.
Performance Bonds - Should you be unable to complete the project, our performance bonds will provide the cash needed so the project developer can hire another contractor to finish the job. Up to $1M single and $3M aggregates.
Our surety bonds are easy to apply for, with fast approval, and competitively priced with low, affordable rates.
Combined with our other services, My Construction Payroll provides you with the support you need through every phase of your business. Call our professional experts today to discuss your bond requirements, and learn how My Construction Payroll can provide you with the bonding you need today to win new contracts tomorrow.
PLEASE NOTE: My Construction Payroll provides surety bonds as a benefit and premium service to our existing customers only. To apply, you must be a My Construction Payroll client for a minimum of three months.
In order to have a successful construction bonding program, and provide the best resources to our clients, we have chosen to outsource our bonding service to investment partners that understand the contractor industry.