Construction / Contract Bonds
 

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Bid Bonds

Are required by many Project owners (Federal, State, Local and Private) and General Contractors as assurance that a contractor (or subcontractor) is qualified to perform a certain job. The bid bond is a financial guarantee that if the contractor is awarded the job, they will enter into a formal contract, and provide the required performance and payment bonds.

Performance Bonds

Performance Bonds guarantee a contractor’s performance obligations to meet all terms, specifications and conditions of a construction contract.

Payment Bonds

Payment Bonds​ aka the Labor & Material Payment Bond protects certain laborers, material suppliers, and subcontractors against non-payment. This bond is significant for contractors who do public work. Since mechanic’s liens cannot be placed against public property, the payment bond may be the only protection these claimants have if they are not paid for the goods and services they provide to the project.

Development / Subdivision Bonds

Development / Subdivision Bonds​ typically guarantee to a city or county that a real estate developer, builder or land owner will finance and construct public improvements such as streets, sidewalks, gutters, drainage systems, and landscaping, etc. The specific guarantees from subdivision bonds can vary depending on the requirements of each local municipality.

Supply Bonds

Supply Bonds​ guarantee that a supplier will provide the supplies/products/materials required in the contract. True supply-only contracts are normally considered “off the shelf” type of items that don’t require customization or fabrication after being manufactured. However, supply contracts can include fabrication requirements as part of the supplied end-product. Supply contracts can range from pencils to structural steel, school buses, pipe, computers, etc.

Maintenance Bonds

Maintenance Bonds are usually part of the performance and payment bonds, wherein a one year guarantee is implied. Separate maintenance bonds are often required if the maintenance guarantee in the contract exceeds one year. These bonds are a limited guarantee against defective materials or workmanship. If the contract language is not clear on the meaning of maintenance, it might be construed to mean it covers normal wear and tear, which is not the contractor or surety’s intent. A clear understanding is needed to avoid a dispute towards the end of the maintenance warranty

About Us

For Over 40 Years Surety Support Services Inc. has provided surety-only services to contractors, insurance agents, brokers, and all types of businesses – large and small – with their bond needs. You can be assured that we will make every effort to provide the bonds required.

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Our Address

Surety Support Services, LLC.
7255 West 98th Terrace, Suite 170,
Overland Park, KS 66212
PO Box 12368, Overland Park, KS 66282