# Bid Bonds

Source: https://a1suretybonds.com/surety-bonds/bid-bonds

## Key facts

- Term: 1 year
- Apply online: https://a1suretybonds.com/application/index/159/0

Bid bonds provide security to the project owner that the bidder will honor their bid to complete the project for the price bid and in accordance with the terms set out in the bid specifications. Once the bid is awarded, the contractor may be required to post [Payment & Performance Surety Bonds](https://a1suretybonds.com/surety-bonds/payment-and-performance-bonds) in the amount of the awarded contract.

What you will need to apply for a Bid Bond:

- Completed [Contract Bond Application](https://a1suretybonds.com/Documents/contract-surety-bond-application.pdf)

- Bid Specifications

- Engineers Estimate

- Surety Bond Requirements

- Bid Bond Form (if provided)

- Liquidated Damages

- For contracts over $250K

- Business Financial Statements

- Personal financial Statements

3 Easy Ways To Apply for your Bid, Payment or Performance Surety Bond:

*Call Us* at 800-737-4880

[EMAIL US](https://a1suretybonds.com/contact-us) to request one of our staff contact you.

*Download* the [Contract Bond Application](https://a1suretybonds.com/Documents/contract-surety-bond-application.pdf)

A guarantee that the bidder will honor their bid and that the surety will provide a payment and performance bond if awarded.

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A1 Surety Bonds (The Surety Syndicate, LLC), a nationwide surety bond agency · (800) 737-4880 · info@a1suretybonds.com · https://a1suretybonds.com
Requirements are set by each state or agency and can change; the obligee's current instructions and the law control.