There are certain types of bonds that must be obtained by people that want to work in the construction industry. One of those is a surety bond. This is a bond that is defined as a contract between the contractor, the person they will be working for, and the business that issued the bond. It is required when an individual or business is going to bid on jobs or projects that they have available. It is a bond that will state that the job will be conducted in accordance with the laws of the area. If the principal, the person who has taken out the bond, does not complete the job, they could be sued for losses and damages. If you do need to get one, a company by the name of Bonds Express is a business that you can trust.
What Is Bonds Express?
This is a company that has been offering surety bonds since the 1960s. There are many different types of bonds that they offer in this category. There are auctioneer bonds, liquor bonds, notary bonds, and in the construction industry, contractor bid and performance bonds are the most common. If you are going to bid on a job, and that company requires you to have one of these, Bonds Express can provide you with one right away. There are certain prerequisites that you must conform to in order to receive one. Let’s look at what those are and how you can get one in as soon as a day.
How To Apply For Contractor Bid And Performance Bonds
These bonds require you to have certain prerequisites which include a 700 credit rating or higher. In most cases, the bond will only cover you up to $350,000 per job, and you must fill out an application to start the process. There are no financial statements required which is unusual for most companies that provide bonds, making it much easier on their potential clients. If everything checks out, you could actually have your bond in less than a day, allowing you to bid on jobs that you would like to have.
Can You Get One Without Good Credit?
One of the benefits of working with Bonds Express is that they are willing to work with people that do not have perfect credit. If you have a lower rating than 700, or even if you have a low net worth, these may still be available for you. These will take longer to approve, up to 72 hours, allowing you to get a bond for up to $10 million. The approval is based upon your history as a contractor and is not based upon your credit score.
Contact Bonds Express Today
If you have been apprehensive about contacting a company to obtain a surety bond, you should have no problem when working with Bonds Express. They will work with contractors that have excellent credit, or even those that do not, as long as they have experience as a contractor in this industry. You can give them a call on the phone, or simply fill out the application on their website, allowing you to move forward with your desire to bid on jobs in your area.