Contract Bond Types

Contract bonds are comprised of several bond types that cover a construction project from start to finish. Whether you need a single bond to get your project started or multiple bonds to secure a new project, Wieben Insurance Services is prepared to inform and assist you.

• Bid Bond

  A guarantee that the bonding company will provide a performance bond if the contractor is awarded the job.

• Construction Bond

  Is not a bond type, but a general term used to describe contractor bonding.

• Maintenance Bond

  A contractor bond in force following a performance bond.

• Payment Bond

  Assures that the suppliers, laborers, and subcontractors will be paid if the contractor defaults.

• Performance Bond

  A contract bond to guarantee the completion of a project per the terms of the contract.

• Site Improvement Bond

  Required to ensure public property will be restored upon the completion of a private project, in which the principal owns the land.

• Subdivision Bond

  Local authorities require a guarantee that the landowner completes mandatory public improvements that builders & developers make to their property.

• Supply Bond

  Required by the project owner, state or federal law to secure payments to suppliers.

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