Before award
Bid Bonds
Support a contractor’s bid and generally guarantee that, if awarded, the contractor will enter the contract and provide required final bonds.
Surety for Virginia contractors
Bid, Performance & Payment Bonds
Whether you need a bond for one opportunity or want to build an ongoing contractor bonding program, we help organize the submission and approach the right surety market.
Support the obligation
Contract surety follows the project.
Contract bonds guarantee specific obligations between a contractor and project owner. A bid bond supports the contractor’s bid; performance and payment bonds address the awarded contract; a maintenance bond may continue an obligation after completion.
Surety underwriting looks at both the contractor and the job. A clear submission helps the underwriter understand the company’s experience, capacity and plan for successful completion.
What we can help with
The contract bond sequence.
The right bond depends on where you are in the project and what the owner requires.
After award
Performance Bonds
Guarantee performance of the bonded contract according to its terms, subject to the bond form.
During the work
Payment Bonds
Guarantee payment obligations to eligible subcontractors, laborers and suppliers as described by the bond.
After completion
Maintenance Bonds
Guarantee certain correction or warranty obligations for a defined period after the work is completed.
Also available
Discuss the project ↗Subdivision & site-improvement bonds
For completion obligations tied to eligible streets, utilities, grading or other required improvements.
A complete picture
What contract surety underwriting considers.
The purpose is not to make the process intimidating. It is to understand whether the project fits the contractor’s current experience and financial capacity.
Information commonly includes company history, similar completed work, current work-on-hand, the proposed project, business and personal financial information, banking, credit and the contract terms. The depth of review depends on the request.
01Experience
Similar completed work and the people who will manage the job.
02Work-on-hand
Current backlog, remaining costs and capacity for the new project.
03Financial strength
Working capital, net worth, profitability and access to support.
04Project details
Scope, contract terms, schedule, owner, subcontracting and risk.
Beyond the next job
Build a contractor bonding program.
Contractors who bid bonded work regularly benefit from an ongoing surety relationship. A program can help establish the single-job and aggregate parameters within which the surety is comfortable considering future requests.
Program mindset
Keep financial statements current. Share work-on-hand changes. Discuss larger or unfamiliar jobs early. A consistent picture helps the surety evaluate each opportunity efficiently.
Discuss Your Bonding NeedsContract bond FAQs
Prepare for the opportunity.
Reach out early when a new project may require bonding—especially if it is larger or different from your usual work.
A bid bond supports the bid-stage obligation. Performance and payment bonds are typically issued after award to support completion of the contract and eligible payment obligations.
Yes. We can review a single-job request as well as ongoing needs. The information required depends on the project size, bond form and contractor.
It is an ongoing surety relationship that establishes the types and general size of work the surety may consider, subject to review of each request and updated information.
The surety is guaranteeing contract obligations and evaluates the contractor’s ability to finance, manage and complete the bonded work. The depth of information varies by request.
Bid with a plan