What is a Bid Bond?

by | May 14, 2018 | Blog, Surety Bonds

Smiling woman explaining what is a bid bond

What is a Bid Bond?

Welcome to part 1 of our 2 part educational series on Bid Bonds

Bid bonds are not an insurance policy, they are a written guaranty from a third party guarantor like a surety company or insurer. A guaranty is submitted to a project owner by a contractor for a work they are bidding on. Watch the video to learn more.

Questions? Contact our bond specialist Tom at 312-878-2372 or email him at [email protected]

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Written by: John Brown
John has more than 25 years of experience in the insurance industry. He grew from a star insurance producer to owning one of the largest agencies in the country; he's a reference regarding contractor's insurance, commercial insurance, and builders' risk insurance.