Who needs this bond
Businesses required by contract to guarantee performance to a private obligee in lieu of an irrevocable letter of credit.
Typical amount and term
Bond amount set by the obligee. Premium 1 to 3 percent of bond amount for well-qualified principals.
What you will need
- Copy of the bond form the obligee will accept
- Business and owner financials
How to apply
- Send the obligee's bond form and bond amount
- Underwriting review in 1 to 3 business days
- Bond issued and delivered to the obligee