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Getting Bonded

Discussion in 'Bidding & Estimating' started by Mackman, Oct 5, 2012.

  1. Mackman

    Mackman PlowSite.com Addict
    from S.E. PA
    Messages: 1,356

    To take my company to the next step i need to start bidding on work. Whats all involved in getting a Bid bond and a Performance bond. Thanks
     
  2. Longae29

    Longae29 PlowSite.com Addict
    Messages: 1,954

    A bid bond is a percent of the bid. Weve always done cashiers checks for that. For performance if you talk to your insurance agent that's probably your best bet. Our insurance guy put me in touch with someone else within the company that helped with that.
     
  3. SullivanSeptic

    SullivanSeptic PlowSite Veteran
    Messages: 3,422

    If you have full business insurance, then your agent can help you with it. If they need bid bonds or performance bonds, then they will have certain amounts required for your general liability and umbrella. Check all of that stuff. Give your insurance agent the insurance requirements.