Get the free Contract Bond Application

Form F3070-3-2006 Page 1 of 4 CONTRACTOR DATA Type of Business Company Name Company Address City Date Started in Business Company Phone No. LLC LLP Tax ID State Zip Company Fax No. E-mail Address List Subsidiaries or Affiliates SPECIFIC BOND REQUEST DATA If prequalification only check here and skip the rest of this section. Time for Completion Maintenance Period Anticipated Start Date Obligee Who is requiring the contractor get a bond Obligee Add...

How to fill out contract bond application

How to fill out Contract Bond Application

1. Begin by downloading the Contract Bond Application form from the official website or obtain a hard copy from your bond provider.
2. Fill in your personal information, including your name, address, phone number, and email.
3. Provide details about your business, including its legal name, address, and type of business structure (e.g., LLC, Corporation).
4. Enter information about the contract for which you are seeking the bond, including the contract amount and project details.
5. Include financial information, such as your business revenue, net worth, and any outstanding debts or obligations.
6. Provide any necessary personal guarantees or collateral information if required by the bonding company.
7. Review the application for accuracy and completeness.
8. Sign and date the application before submitting it along with any required documentation to the bonding company.

Who needs Contract Bond Application?

1. Contract Bond Applications are typically needed by contractors, subcontractors, and construction businesses that are required to obtain a bond to fulfill contractual obligations or legal requirements.
2. Businesses seeking to ensure their compliance with local regulations in construction, development, or service contracts often need to complete this application.
3. Anyone looking to engage in business that requires a surety bond for financial assurance and protection for clients or project owners may also need to complete this application.

People Also Ask about

How much does a $25,000 contractor's bond cost?

$25,000 surety bonds typically cost 0.5–10% of the bond amount, or $125–$2,500. Highly qualified applicants with strong credit might pay just $125 to $250, while an individual with poor credit will receive a higher rate.

How much does a $100,000 bond cost?

$100,000 surety bonds typically cost 0.5–10% of the bond amount, or $500–$10,000. Highly qualified applicants with strong credit might pay just $500 to $1000, while an individual with poor credit will receive a higher rate.

How much does a 1000000 surety bond cost?

Surety bond premiums are calculated as a small percentage of the bond amount. $1,000,000 surety bonds typically cost 0.5–10% of the bond amount, or $5,000–$100,000. Highly qualified applicants with strong credit might pay just $5,000 to $1,000 while an individual with poor credit will receive a higher rate.

How much does a 1 million dollar bail bond cost?

In this case, the cost of a million-dollar bond might range between $50,000 and $150,000. Fortunately, Lance Surety Bonds specializes in helping their customers to access bonds, regardless of their credit history.

How much does a 2 million dollar bond cost?

Service Fee: Typically, a bail bondsman charges a fee of 10-15% of the total bail amount. So, for a $2 million bail, you'd be looking at a fee between $200,000 and $300,000. This amount is non-refundable.

What is surety bond in English?

Meaning of surety bond in English. a legal agreement in which someone promises to pay a person or organization a sum of money if another person does not do something they had promised to do: Contractors are not required to post a surety bond, but they must have at least $3 million in liability insurance.

How do I fill out a bond application?

How to Fill Out a Surety Bond Form Bond Number. The bond number is the unique identification number assigned to your bond. Bond Premium. This is the cost of your bond, typically calculated as a percentage of your bond coverage. Principal Name. Surety Name. State of Incorporation. Obligee Name. Bond Amount. Bond Obligation.

How much does a $1,000,000 surety bond cost?

Surety bond premiums are calculated as a small percentage of the bond amount. $1,000,000 surety bonds typically cost 0.5–10% of the bond amount, or $5,000–$100,000. Highly qualified applicants with strong credit might pay just $5,000 to $1,000 while an individual with poor credit will receive a higher rate.

For pdfFiller’s FAQs

What is Contract Bond Application?

A Contract Bond Application is a formal document submitted by contractors or businesses seeking a surety bond to guarantee their performance on a contract.

Who is required to file Contract Bond Application?

Typically, contractors, subcontractors, or businesses involved in public or private construction projects may be required to file a Contract Bond Application to secure a surety bond.

How to fill out Contract Bond Application?

To fill out a Contract Bond Application, applicants must provide accurate information about their business, the specific contract involved, financial history, and any other relevant details as required by the surety company.

What is the purpose of Contract Bond Application?

The purpose of a Contract Bond Application is to evaluate the applicant's eligibility for a surety bond, ensuring they have the capability and reliability to complete the contracted work.

What information must be reported on Contract Bond Application?

Information that must be reported on a Contract Bond Application typically includes business identification, financial statements, project details, experience, and references.