Secure Seamless Construction Projects With Bond Strategies Today
Financial Implications and Cost Considerations
The cost of obtaining a bond varies depending on several factors, including the project's size, the contractor's financial history, and the bond's type and amount. Typically, bond premiums range from 0.5% to 3% of the total contract value1. Contractors with strong financials and a proven track record can often secure lower rates. It's crucial to weigh these costs against the potential risks and benefits to determine the best strategy for your project.