Surety Bond Cost Calculator

Are bid bonds really free?

Yes, bid bonds are free! But please make sure to include the cost estimate of the performance & payment bonds before submitting your proposal to the customer.

What is the cost of a performance & payment bond then?

The cost of a Performance & Payment bond can vary depending on several factors. It typically falls within the range of 0.05% to 3% of the contract value.

How is the cost determined by the surety company?

This cost is determined by evaluating the contractor's financial strength, accounting reporting status, and their history of successfully completing bonded projects.

When a contractor has a strong financial position and a track record of successfully fulfilling bonded obligations, the surety company perceives them as a lower risk. As a result, the cost of the bond may be lower. On the other hand, if a contractor has limited financial stability or a less proven track record, the surety company may perceive a higher risk, which could lead to a higher cost for the bond.

In essence, the cost of the bond reflects the level of risk associated with the contractor. The more financially sound and reliable a contractor is, the lower the risk perceived by the surety, and consequently, the lower the cost of the bond.

It is important for contractors to maintain strong financials, accurate accounting records, and a history of successful bonded projects. These factors not only contribute to lower bond costs but also increase the trust and confidence of surety companies in their ability to fulfill their obligations.

Get Started Today

"I cannot THANK YOU enough for your help and assistance. Your willingness to step up and help me was beyond most people would do. I was under a lot of pressure with the deadline for these contracts and you shared that pressure with but still always calm, responsive and persistent.
What an amazing job you have done to secure not one but TWO bonds! Each of these are the largest One Source Construction has ever landed, so you can only imagine how exicited we are!"
— Aline Uminsky
President One Source Construction LLC
"As the President of a small but growing company, I can tell you that you are always looking for the best service and best price when you have to buy a service. Recently when I was looking to Bond my company, Neb was able to get me the best deal that I could find, hands down. Neb listened to me when I explained our situation and went out of his way to ensure that he got me the lowest price that he could, which by the way was much better than other quotes I had received. Neb made sure that he knew that I was happy with his offering.
All I can say is, mission accomplished, and if you need the services of a Bond Agent, definitely make Neb your first call."
— Benny Asnake
President & CEO IT Data Consulting LLC
"Neb is an outstanding professional bond agent. His advice and desire to help are noticeable from day one. Our bonding process was very particular and some little bit of extra work was needed, but he was always there with an answer and solution for us.
Neb, I sincerely appreciate your patience, dedication, and assistance all throughout this process. You've been amazing and I wish to continue working with you!"
— Humberto Garces-Lenis
President & CEO Green Construction Services Group, LLC
"Neb is the best Bond Agent that I have ever worked with. I was really struggling with my bond company and was looking to work with an agent that really took the time to understand our business. Neb went above and beyond and really helped us out when we were in a pinch.
I would highly recommend Neb to anyone in need of a Partner to help their business succeed. Neb is a key component of our company's growth and success. Thank you, Neb for all you do!"
— Liz Hish
President Sota Ridge
Neb, You have provided great advice and support from the start. You have helped me grow from $39,000 to $1,200,000 in bonding in less than two years.
Following the guidance you've provided we were able to secure bonding for 5 projects within a very short amount of time. Thank you for everything!"
— Derrick Surratt
President DV Solutions, LLCV
Neb is a wonderful agent. Fast, efficient, courteous, and absolutely professional. It was very easy to work with him. He was very responsive to our request and got us bonded in a few short days. He used his own reputation to secure our bonds. Neb is a true ambassador of Bonding. "
— Priscilla Brown
Co-Founder B&BPILL
"Neb has been a pleasure to work with. His sound judgement and advice have been invaluable. His professionalism, expertise and attention to detail as it relates to bonding requirements in the construction industry is unmatched"
— Keith S. McDuffie
President J.L. Terrell Construction LLC
Neb and his amazing team have been delightful to work with because they are professional, proactive and understand the needs of a small business that is growing in the construction industry. They work with us to ensure our bonds are received timely for our bids and trust us to know that we will perform as we say we would on a project.
— Kevin Mohammed
Founder & CEO Konstructure, LLC