A bid bond is a type of surety bond that contractors submit along with their bids for construction projects. It provides financial security to the project owner and guarantees that the contractor will enter into a contract and provide the required performance and payment bonds if awarded the project....

Performance bonds are a crucial component of construction contracts that provide financial protection and assurance to project owners. A performance bond is a type of surety bond that guarantees that a contractor will complete a project according to the terms and specifications outlined in the contract....

Payment bonds are a type of surety bond that guarantees that a contractor will pay all subcontractors, suppliers, and laborers for the work they perform on a construction project. Payment bonds are often required by law in order to protect the rights of those who have provided labor or materials for the project....

A maintenance bond is a type of surety bond that guarantees the performance of a contractor for a specified period of time after completion of the project. It provides financial protection to the owner in case there are any defects or deficiencies in the workmanship or materials used during construction....