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PERFORMANCE & PAYMENT BONDS

Comparison Quotes, Great Rates & Fast Responses

As a full-service, national surety bonding agency, Brunswick Companies is licensed in every state. Our quick and easy application process will help you get the bond you need fast. Our surety bond professionals have extensive experience in providing performance and payment bonds to ensure you get the right bond at the best price, regardless of credit. Complete the form below to get the best rate today.

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The Brunswick Advantage

Brunswick Companies’ surety bond agents provide responsive, knowledgeable assistance to construction industry professionals. We guide you through the process of obtaining the bonds that meet your business needs. We can do this by offering:

icon_networkingA wide range of companies and products. Working with an experienced bond agent provides an edge in obtaining the best pricing. Mark Levinson, Senior Vice President of Surety, has decades of experience in the construction surety market. His strong relationships with the leading surety bond underwriters and performance bond companies allows us to provide our clients with access to more favorable terms and conditions.

icon_businessgrowthGrowing your construction business. By taking a proactive approach to addressing underwriting concerns, Brunswick Companies streamlines the approval process and helps expand your access to surety credit. We work closely with our clients to increase their bonding capacity, staying in line with their expectations for business growth.

Contract bonds are a type of surety bond focused on contracted projects—and often ones owned by local or state governmental agencies. In all cases, the contractor is responsible for getting and paying for the bonds. However, it's a common practice to include the cost of your performance bond in your project bid, passing the cost on to the project owner.

Bid Bonds: Project owners use bid bonds to pre-qualify contractors who submit proposals for contract work. Contractors use bid bonds to show that they’re guaranteed for the bid amount and ready to post the appropriate performance bond when they win the contract.

Performance Bonds: In order to guarantee their adherence to contract terms, contractors use performance bonds. These bonds protect the project owner from financial loss if the contractor breaks the contract.

Payment Bonds: Often obtained with performance bonds, payment bonds guarantee that the contractor will pay subcontractors, laborers, and material suppliers required by the contract, even if they default. Public construction jobs can’t place liens, so a payment bond protects labor or materials suppliers on a public job.

Brunswick Companies offers bid bonds for free, and can work with you to obtain a performance bond when you win the contract. Performance and payment bonds are often purchased together, and we can help you get both at the same time.

The cost of a performance bond is a percentage of the full contract amount and may range between 1% and 3% or more. While your personal credit and business financial documents are two factors in determining your cost, we have programs to help contractors in a variety of situations to get the best options and pricing.

First, you will need to complete a request for a quote. Once we receive that, we'll reach out to you with a formal application to complete and return. We may request additional documentation to support your application. After your bond is approved, we will send a copy to you as quickly as possible. The entire process can be fast and seamless if you have your business financials in order ahead of time.

Brunswick Companies has several programs in place to assist you. We can help newly established and small companies get bonds through our membership in the Small Business Administration (SBA) Surety Bond Guarantee Program. We also have a program that does not require a CPA-prepared financial statement in order to qualify for bonding. Our team will help make sure you get into the program best suited to help your company get the bonds you need to grow your business.

If your credit score is less than great, Brunswick Companies can still help you get bonded thanks to the large network of surety companies we work with. Use a service like Credit Karma to check your score for free to help you anticipate what your bond rate--the price of the bond--will be. And, as you build your credit back up, future projects could have more favorable rates.