Type of Bond
This Completion bond guarantee the obligee that the contractor will perform his obligation as per the contract. The bond ensures one that the obligation will be performed as per terms. This bond itself tells you the meaning that the contract will be performed. The principal guarantees the obligee about the performance of the contract. Lending institution or mortgager ensures that they complete the contract or pay off the money borrowed within the contract time. Performance bond or completion bond are consider one and the same. However, this bond has two distinctive features. In both the cases principal as to perform his obligation, but the obligee does not have to pay off. Either since the principal have his obligation directly or indirectly to perform completion bond plays an essential role while underwriting. It should be underwritten with much care. Every body finds difficult to enter in to completion bond. This bond contains more risk factor. In this, bond principal as the obligation to perform and in vice versa the obligee as the obligation to pay off. These bonds guarantee the completion of the work of the contact.
Program: Our agency currently has several specialty programs that can help you place your Completion Bond.
Completion Bonds are an extension of credit, like a loan your rate will be based upon your credit situation. Most surety agencies will decline your bond submission if you don't have a 700 credit score, but our company is different. We can help you in almost any credit or financial situation. Our rates start at 1% to 3% for most surety bonds. If your credit has taken a beating the rates start at 4% to 25%.
Always check with the Obligee - "Obligee" for details
Completion Bond Application
Our application process for a Completion Bond is easy. You can apply for the Completion Bond Application .
Find this bond for another state
An obligee is the entity that is requiring you to have the Completion bond.
Here are a few state specific bonds.