Design – Build Contract Bond
What is a Design – Build Contract Bond?
A Design – Build Contract Bond is a type of Specialty Contractor bond that ensures that design-build contractors comply with contract terms, federal, state, and local regulations, protecting clients from any damages or improper execution of the design-build project.
Protects clients from financial loss due to the misconduct or negligence of design-build contractors, ensuring the proper completion of design-build projects.
Required by government agencies or private clients to ensure responsible management and compliance with contract terms and regulations by design-build contractors.
Applicant’s personal or business information, credit history, bond amount (determined by the contract requirements), and design-build contract details.
Based on credit history and bond amount, usually 1-5% of the bond amount.
