Bond Placements Ltd.

Your Concierge Surety Agency

Bond Placements Ltd.

Bond Placements is a concierge surety agency headquartered in Denver, CO providing bonds to Colorado and California contractors. We have 25 years experience in the bonding industry, and work with over one dozen proven sureties to provide timely, affordable bonds. Whether you’re a new client applying for your first bond, or a proven contractor with high-value bond needs, we’ll help you prosper and grow.

BID BONDS

A Bid Bond is given to a Federal, State, County or Municipal Government agency at the time of a bid to guarantee the good faith of the Contractor (Principal). If the Principal is awarded the contract, the Principal will enter into the contract and post the required Performance and Payment Bonds. Bid bonds are typically required as a percentage of the bid, usually 5%, 10% or 20%.

PERFORMANCE BONDS

The Performance Bond follows the Bid Bond if the Principal (Contractor) is awarded a contract by the owner. The Performance Bond is a non-cancellable obligation which guarantees that the contractor will complete the contract in accordance with the terms, conditions and specifications of the contract. 

PAYMENT BONDS

A Payment Bond is usually required as a companion to the Performance Bond, guaranteeing that material suppliers and direct labor suppliers will be paid. There is no charge for Payment Bonds when issued in conjunction with a 100% Performance Bond.

LICENSE & PERMIT BONDS

These bonds are required as a condition of receiving a license to engage in certain construction activities or as a condition of receiving a permit. These bonds are generally compliance-related and guarantee that the Principal will adhere to his or her obligations under the license or permit.

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