Performance Bonds are provided by contractors to project owners after a contractor is awarded a bid (Performance Bonds are often preceded by Bid Bonds). The Performance Bond is a guarantee that the contractor will perform according to the project contract’s terms and specifications. The amount of the bond will vary but in many cases it will equal the full contract amount.
Do you have questions about Performance Bond?
Contact an insurance specialist at The Brooks Group today to answer any questions about Performance Bond or for a free review and insurance quote for Performance Bond.
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