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Maintenance (Warranty) Bonds
A Maintenance (Warranty) Bond, while not normally required, can sometimes be required by the owner of a construction project. It provides coverage for defective workmanship or faulty materials discovered after the project has been completed. The bond typically has a financial limit at around 10% of the final contract amount.
While most Maintenance Bonds are written at No Charge or at $100, typically the rate would not exceed 1% per year. The cost of a Maintenance Bond depends on project circumstances and bond form terms and conditions.
Professional Insurance Associates specializes in providing maintenance surety bonds. Our superior bonding services will ensure you that we will provide affordable bonds and also ensure that we will guide you in every aspect of the process. Our bonding services provide you the guarantee that we will perform our obligation as per the terms and condition of the contract. If you have any queries, immediately contact the Professional Insurance Associates team for assistance.