PROGRAM DETAILS

$30 Flat Rate

Program Limits

$750,000 Single Bond / $750,000 Total Open Bond Penalty

Account Exclusions

  • Has been in business or under current management for less than three years
  • The company, owner or predecessor has ever declared bankruptcy
  • The company, owner or predecessor has defaulted on a contract or been involved in a surety claim
  • The company, owner or predecessor has been involved in any lawsuits or liens in the last five years
  • The company, owner or predecessor has open bonds with another surety
  • Contractors and bonds in the five boroughs of New York City

Project Exclusions

  • Work for Sovereign Nation Owners
  • Bid spread of 10% or greater
  • Maintenance guarantees over two years
  • Completion time in excess of 18 months
  • Work located outside of the contractor's home state or contiguous states (unless located within 300 miles of the contractor)
  • Environmental/Remediation Exposure
  • Design Build Contracts
  • Efficiency Guarantees
  • Computer Software Programs
  • Subdivision/Completion Bonds
  • Multi-Year Contracts or Renewal Options
  • IDIQ Contracts
  • Liquidated damages in excess of $2,500/day
  • Takeover Projects

How Do I get a Surety Bond?

Surety bonds are issued by Merchants Bonding Company (Mutual) through insurance agents. Contact your local insurance agent or use our Find an Agent tool. They will guide you through the process, informing you of what documents and information are needed by the surety (Merchants Bonding Company (Mutual)) to underwrite your bond.

Rates subject to change. Effective January 1, 2018.