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