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