How do I qualify for surety bonds?

The surety underwrites your finances, experience, and capacity. Presenting strong financial statements and a solid track record expands the size of work you can bond. We help you prepare.

Are surety bonds insurance?

No. They guarantee the project owner that you will meet your obligations, and if the surety pays a claim you repay it. They are a form of credit, not liability insurance.

What is bonding capacity?

The total and per-project bond amount a surety will extend to you, based on your financial strength and experience. Growing it lets you pursue larger contracts.

Contractor Surety Bonds - Vantage Point Risk

Bid, performance, and payment bonds for jobs.

When you bid or win larger and public projects, the owner often requires surety bonds: a bid bond, a performance bond, and a payment bond. These guarantee your bid, your completion, and payment to your subs. Qualifying depends on your financial strength, and we help you get there.

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Contractor surety bonds are contract bonds required on many larger and public projects. A bid bond guarantees you will honor your bid, a performance bond guarantees you will complete the work, and a payment bond guarantees you will pay subcontractors and suppliers. They are guarantees to the project owner, not insurance for you.

The three contract bonds

A bid bond guarantees that if you win, you will enter the contract at your bid. A performance bond guarantees you will complete the project according to the contract. A payment bond guarantees you will pay your subcontractors and suppliers. Public works frequently require performance and payment bonds, and private owners and lenders may as well. Together they protect the owner and the project's supply chain.

How qualifying works

Surety is closer to credit than insurance. The surety underwrites your financial strength, work history, and capacity to decide whether, and at what limit, to back you, often reviewing financial statements, your track record, and your bonding capacity. Building a relationship with a surety, and presenting your financials well, is what expands the size of work you can bond.

How we handle it

We work with sureties to qualify you for bid, performance, and payment bonds, help you present your financials and experience, and match you to a surety that fits your size and the work you pursue. We coordinate bonding with your insurance so you can confidently bid and win the larger jobs.

Bid, performance, and payment bonds for jobs.

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The three contract bonds

How qualifying works

How we handle it

Common questions.

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