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Performance bonds, are a type of contract bond, which guarantees that a contractor will fulfill the terms and conditions of a contract. The winning bidder upon award of the contract submits this bond. Generally, performance and payment bonds are issued together as they are closely related.
Professional Insurance Associates Performance Bond Selection
Programs are available for bonds of all sizes. We have a fast track (a streamlined application that bonds you based on the owner(s) person credit, as well as business financials) for bonds under $200,000.
Currently no contract bonds programs are available (performance bonds fall under the category of contract bond) for clients with bad credit. If you have had bankruptcies, tax liens, or just poor overall credit, you will not be eligible for a bond. However, Professional Insurance Associates is affiliated with several unique carriers that can offer solutions for higher risk bonds/applicants.