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Performance Bonds

We specialize in all sorts of contract and commercial bonds based on your needs. Whether you need a bid bond, a performance bond, a notary bond or any other contract/commercial bond, we can work with you to get you the product you need.

Michigan Performance Bonds

Bid Bonds

There's a good chance that you will need a bid bond to even get started on a government contract.

A bid bond is provided as an instrument of prequalification. Bid bonds show the contractor is qualified and has the ability to carry out the work under the construction contract. Also provides the owner a means to recover the cost of having to repeat the bidding process if the awarded bidder is unable or unwilling to perform.

We want to make sure that you are not missing opportunities to bid for high quality projects.

Performance & Payment Bonds

If you are bidding on government contracts, chances are you will need to have a performance and payment bond. The performance bond provides an obligee with a guarantee that, in the event of a contractor's default, the surety can be called upon to meet its obligation under the bond.

Payment Bonds provides security for payment for labor and materials incorporated into the project by subcontractors, suppliers etc. Since a subcontractor or supplier cannot place a lien on public property, the bond provides assurance that proper payments will get made.

It is important to note these bonds are not an insurance policy for the contractor but more of a financial guarantee to the project owner. The surety provides the guarantee and the contractor will provide the surety assurances in terms of financial information and indemnity.

The cost of these bonds, while included in the contract price, do affect the overall cost of the project. We are able to provide these bonds at the lowest reasonable premiums to lower your overall costs.

License and Permit Bonds

Are bonds required by the government (federal, state, county, municipality) or other political subdivision as a condition precedent to the issuance of a license to engage in a certain business or activity or the granting of a permit to exercise a particular privilege.

These bonds guarantee compliance with requirements and restrictions pursuant to a license granted and also protects the general public against monetary loss, physical damage or bodily harm.

These bonds can include compliance type obligations from plumbers, electricians, HVAC, building contractors etc. Also can include Right of Way, Sidewalk or Street Opening type bonds. The list can be extensive.

Motor Vehicle Dealers Bond

The bond protects the public from any losses incurred by fraudulent practices, violations or misrepresentations of the auto dealer or its sales force. Bonds differ by state but it may guarantee good title to the vehicle, fraudulent turning back of odometers, remittance of sales tax to states, warranties, etc.

While the types of bonds we can provide is a wide variety and too many to list them all but here are a few examples:

  • Notary Bonds
  • Private School Bonds
  • Supply Bonds
  • Public Official Bonds
  • Court Official Bonds
  • Lost Securities or Instrument Bonds
  • One Day Liquor Bonds
  • Janitorial Services Bond
  • Medicare DMEPOS Bonds