Virginia Payment Bond
In most states contract surety is required for construction jobs that are paid with public funds in excess of $25,000. We have Bid, Payment, Performance, Labor & Materials for all contractors. Apply or Call 1-844-933-4455.
Virginia Payment Bonds
will usually start with a bid bond, to bid the job. When the job is awarded to the winning bidder, a payment and or performance bond will then be required as a security to the job completion.
Payment Bondsare required on many public funded construction projects. The payment bond forms a three-way contract between the Owner, the contractor and the surety, to make sure that all sub-contractors, laborers, and material suppliers will be paid leaving the project lien free.
On a private project, the payment bond might become a substitute of a mechanics’ lien. When the principal or contractor fails to pay the suppliers and the subcontractors, they might collect from the surety under the payment bond.
As mentioned, there are many types of these bond. The contract will specify what bonds are required.
Obtaining a Virginia Payment Bond at Jane Bond Surety is simple.
Many Virginia bonds can be obtained in as little as an hour. Some take longer. Use the highlighted bullet points above to determine what you can expect when applying for this bond. Many (not all) bonds require a credit check. In many instances it simply depends on the actual bond one is applying for and the insurance company's experience in that category. Some bonds are considered low risk and some are considered higher risk. Bonds that do not require a credit check are usually instantly issued.
We, at Jane Bond Surety & Insurance, take your contract bond very seriously. We also consider the cost. We make every effort to obtain the quickest bond at the lowest rate. If at any juncture you have any questions call us at: 1-844-933-4455.
Quote via email.
Once we receive your app we will locate the best rate available to us. We will communicate that to you via email. The email will contain instructions on how to proceed.
When you decide to move forward we will provide you with options to pay the premium, receive the bond as well as shipping options. It's really that simple!
We have several programs that contractors can apply for. Some bond requests will require additional underwriting. We work with you for a smooth transition and placement with a surety.