New York Easy Performance & Payment Bonds With Fast Online Application

May 7, 2023

Surety Bond Professionals (781-559-0568) is your partner in growing your business. Their quick and easy bond application requires minimal paperwork, and you can start the process online, too!

When it comes to winning your bids, time is of the essence. Don't waste time applying for bonds at agencies that take too long to process and ask for unnecessary requirements! Surety Bond Professionals will be able to match you with the right bond company with as few requirements as possible!

The application process requires minimal paperwork and faster turnaround times. All contractors need to do is go to the website's Online Surety Bond Application form and provide contact information, bond type and amount to start the application process immediately.

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Contractors can increase their chances of winning the bid if they secure a payment and performance bond. This protects all the stakeholders in the project - it assures the owner that the project will be completed up to the standard set by the contract and confirms payment for labor and materials used for the project.

Performance and payment bonds are often required at the same time, so most people think that they are the same. Surety Bond Professionals explains, however, that there are differences between the two. A performance bond guarantees the project will be completed according to the contract. A payment bond, on the other hand, guarantees that all laborers, service providers, and suppliers will be paid by you.

Depending on the credit score, financial history, and the contractor’s relationship with the bond agency and issuing company, the face value of the bond can cover anywhere from 50-100% of the value of the contract. Surety Bond Professionals states that most of the time, they can find companies that will issue 100% of the contract price, even to small contractors. The premiums range from 0.5% to 3% of the contract value.

“It was always stressful working with our previous surety. Because Surety Bond Professionals specialize in construction bonds, they have a comprehensive understanding of the market, which provides us with a high level of comfort. They can keep our bonding line open, so we can bid when we want to,” a satisfied customer said.

Surety Bond Professionals has access to more than 25 surety markets to find the best programs, deals, and payment plans for you. They take time to explain each program to you so you can make empowered business decisions. Here, you are a “work family,” and they are committed to helping you succeed!

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