Need a bondability letter first?
Bondability letters have a much quicker turnaround than a bid bond and are usually free of charge. Use it to show project owners that you are qualified to bond the work before you commit time to a bid.
Most contracts up to $1.5M require no financial statements. Rates as low as 1 percent. Bid bonds are complimentary when we write your payment and performance bond.
A bid bond guarantees that if you win the contract, you will sign it and provide the required performance and payment bonds. It protects the project owner if you back out.
When we write your payment and performance bond, your bid bond is free of charge. Most agencies charge for both. We do not.
Most bid bonds are issued the same day. Send us the bid specs and we move quickly so you do not miss your deadline.
For most projects up to $1.5 million, we do not need full financial statements. Less paperwork. Faster decisions.
We write bid bonds for both public sector work (federal, state, municipal) and private commercial projects.
Bondability letters have a much quicker turnaround than a bid bond and are usually free of charge. Use it to show project owners that you are qualified to bond the work before you commit time to a bid.
Once you win the contract, these bonds guarantee that you complete the work (performance) and pay your subcontractors and suppliers (payment).
Most surety agencies require full reviewed or audited financials before they will write a $500K bond. We can write up to $1.5M for qualified contractors with no financials required. Rates start as low as 1 percent of the bond amount.
Qualified contractors with strong credit see rates as low as 1 percent of the bond amount. That is a $5,000 premium on a $500,000 bond.
For projects under $1.5M, no balance sheets, no tax returns, no CPA-prepared statements. A short application gets you bonded.
Most contracts require both. We write them together as a single submission, often at a single rate.
Bid bonds are complimentary when Junno writes your payment and performance bond. We must write the P&P for the bid bond to be free.
Above $1.5M? We still write the bond. You will provide standard financial documentation, and we will guide you through what is needed.
We work with top-tier surety markets. Most submissions get a decision within 1 to 3 business days.
Email or upload the contract documents and a quick application.
Under $1.5M means no financials. Above $1.5M, we will request standard documentation.
Approved bonds are issued and emailed. Original wet-signed bonds shipped same day if needed.
Bond filed with the project owner. You start the work. We are here for future bonds too.
Three bonds, three different jobs. Here is how they compare.
| Bid Bond | Payment & Performance | |
|---|---|---|
| When you need it | Before submitting a bid | After winning the contract |
| What it guarantees | You will sign the contract and provide the P&P bond if you win | You will complete the work (P) and pay your subs and suppliers (P) |
| Typical amount | 5% to 10% of the bid | 100% of the contract value |
| Junno cost | Complimentary when we write your P&P | As low as 1% of the bond amount |
| Financials needed? | Usually no | None under $1.5M |
| Typical turnaround | Same day | 1 to 3 business days |
Send us the contract specs or just give us a call. No obligation, no credit pull, no hard sell. Just real answers from a licensed surety producer.