Performance Bonds

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A Performance Bond

A performance bond ensures the contractor will perform its contractual duties in accordance with the contract. If the contractor fails to complete the project, according to the contract, the owner can make a claim.

major construction site in downtown

A performance bond protects an owner from a contractor’s failure to perform according to the contractual terms signed. 

architects planning his design

What Are Performance Bonds Used For?

To ensure the project is completed according to the contract terms and conditions. If the contractor fails to comply with these conditions the owner can file a claim to have the project completed by the surety.