What is a Site Improvement Bond?
A site improvement bond is a type of contract surety bond purchased by contractors to ensure project improvements or renovations (as opposed to new construction) to existing properties or facilities are made according to the contractual agreements and specifications.
How much does a Site Improvement Bond Cost?
Site Improvement Bond prices vary based on the bond amount and the applicant. Most contact bonds are priced at 2-3% of the bond amount. Request a free, no-obligation quote and one of our bond specialists will look at your specific circumstances.
The party requiring the bond should have specified the bond amount. If not, the bond amount is likely the same as the total contract amount. If you are requesting a bid bond, the bond amount is often only 5-10% of the contract value.
If you'd prefer to speak with one of our bond specialists, please call us at 1-800-608-9950. We can help guide you through the bonding process and identify the lowest cost in the market for your situation.
Other Types of Contract Bonds
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