Category Archives: Contract Bonds

Getting approved for a surety bond is just the first step. Maintaining your bond program — and increasing your bonding capacity over time — requires consistent financial management, documentation updates, and ongoing compliance with underwriting expectations. Contractors who actively manage their bond program are often able to: Qualify for larger projects Increase single job limits […]

If you’re applying for a construction surety bond — whether it’s a bid bond, performance bond, or payment bond — your approval doesn’t just depend on your credit score or business size. Underwriters evaluate your company’s financial strength, experience, project history, and overall ability to complete bonded work successfully. Submitting a complete and well-organized bond […]

If you’re hiring an out-of-state (non-Minnesota) construction contractor for a Minnesota project — or you are that contractor — Minnesota’s surety deposit rules can impact your payments, timelines, and cash flow. Minnesota’s Department of Revenue (DOR) recently updated its guidance and continues to emphasize a key compliance point: the hiring party may need to withhold […]

Definition A bond program is a pre-arranged agreement that gives contractors ongoing access to surety bonds without restarting the full underwriting process each time. In effect, it’s like having a “line of credit” specifically for bonding. Once approved, you can quickly draw bonds for new jobs instead of beginning from scratch every time. Why Contractors […]

Payment and Performance Bonds Explained: Fast and Simple with ZipBonds If you’re bidding public projects, you’ll need these two contract bonds. Learn what they are and how to get them FAST. What are payment and performance bonds? Performance Bond: Guarantees project completion for the owner Payment Bond: Ensures subs, suppliers, and workers get paid Who […]