A License and Permit Bond is a bond that guarantees a contractor will comply with the local statutes and ordinances.  

A Maintenance Bond provides coverage against defects or faulty workmanship after a project is complete.  

Supply Bond-  A Supply Bond guarantees a principal will supply certain supplies or materials to the owner.  

Payment Bond-  The Payment Bond, also known as a labor and material bond,   guarantees that the contractor will pay all financial obligations (material, labor, subcontract, etc…) relating to the contract.  

Performance Bond-  The Performance Bond ensures the contractor will perform its contractual duties in accordance with the contract.  

Bid Bond-  A Bid Bond provides financial assurance to the owner that the contractor will enter into a contract with the owner for the contractor’s bid and commits to providing a performance and payment bond when awarded the project.  

Commercial Bond-  A Commercial Bond typically guarantees the principal will comply with the local statutes and ordinances.  An example would be a license and payment bond.  

Contract Bond- A Contract Bond guarantees the construction or building of a certain project. Examples would be bid bonds, performance bonds, payment bonds, maintenance bonds and supply bonds.

Surety Bond-  A Surety Bond is a three-party agreement among the obligee (owner), principal (contractor) and surety.  It’s a promise to make the owner whole if the contractor fails to meet its contractual obligation.