Contract Bond Request Process

World Wide Bonding Agency takes pride in assisting our contractors throughout the contract bond request process. That is why we developed the following guide to contract bonding! Follow the instructions below for all your contract bond requests:

 

Bid Bond Requests

 Check the job specifications to see if there are bond requirements

 Request a bid bond by completing and submitting the following:

Bid Bond Request Form (Fill out Section 1: General Info and Section 2: Bid Bond Request) – One per bond. This request is for contractors placed with standard surety markets only. If you are a contractor in our Fast Track Contract Bond Program, you can fill out a bid request HERE.

Job Cost Breakdown Form – for contract price of $1,000,000 and higher

  ▪ Enclose a copy of invitation to Bid and Bid Specifications (no need to send us the entire file! We usually only as for the “General Conditions” of the bid specifications)

  ▪ Special Bond Forms (if required) & specify how many originals of the bond are needed

☞ Contact Us explaining whether you won the job or not by submitting the following

  ▪ Submit Bid Results PDF Form – (or Submit Bid Results Online)

***PLEASE NOTE, ANY PROJECT THAT GOES OVER 365 DAYS (1 YEAR) IS SUBJECT TO A 1% SURCHARGE FOR EACH MONTH OVER THAT TIME PERIOD***

_____________________________________________________________________________

Performance & Payment Bond Requests

☞ If awarded the project, request a performance bond by completing and submitting the following:

 Performance Bond Request Form (Fill out Section 1: General Info and Section 3: Performance Bond Request) – This request is for contractors placed with standard surety markets only. If you are a contractor in our Fast Track Contract Bond Program, you can fill out a Performance Bond request HERE.

▪ Copy of the award letter

▪ Copy of contract or purchase order

▪ Special Bond Forms (if required) & specify how many originals of the bond are needed

 Complete work in full – once the project is done, there are times when the obligee (owner) will request a G707 Form. This form will officially close out the job. Status inquiry and contractor’s affidavit will be needed (these forms are provided by the surety company you are placed with). Once we receive these completed forms, we will forward to the bond company for approval. If there is a contract overrun, the additional premium will be billed at that time.

***PERFORMANCE AND PAYMENT BONDS ARE AUDITABLE. WHEN THE JOB IS COMPLETED AND IF YOUR APPROVED BONDED CONTRACT PRICE INCREASES YOU ARE SUBJECT TO AN ADDITIONAL PREMIUM.***

_____________________________________________________________________________

Maintenance Bond Requests

 A maintenance bond is occasionally required after you close out the job by whoever required the bid and performance bonds; if needed, contact us for a maintenance bond so you can make any needed repairs while your bond is active. To close out a maintenance bond, a status inquiry and contractor’s affidavit will also be needed.

Bid Bond Requests

Check the job specifications to see if there are bond requirements

Request a bid bond by completing and submitting the following:

Bid Bond Request Form (Fill out Section 1: General Info and Section 2: Bid Bond Request) – One per bond. This request is for contractors placed with standard surety markets only. If you are a contractor in our Fast Track Contract Bond Program, you can fill out a bid request HERE.

Job Cost Breakdown Form – for contract price of $1,000,000 and higher

Enclose a copy of invitation to Bid and Bid Specifications (no need to send us the entire file! We usually only as for the “General Conditions” of the bid specifications)

Special Bond Forms (if required) & specify how many originals of the bond are needed

Contact Us explaining whether you won the job or not by submitting the following

Submit Bid Results PDF Form – (or Submit Bid Results Online)

***PLEASE NOTE, ANY PROJECT THAT GOES OVER 365 DAYS (1 YEAR) IS SUBJECT TO A 1% SURCHARGE FOR EACH MONTH OVER THAT TIME PERIOD***

_____________________________________________________________________________

Performance & Payment Bond Requests

If awarded the project, request a performance bond by completing and submitting the following:

Performance Bond Request Form (Fill out Section 1: General Info and Section 3: Performance Bond Request) – This request is for contractors placed with standard surety markets only. If you are a contractor in our Fast Track Contract Bond Program, you can fill out a Performance Bond request HERE.

▪ Copy of the award letter

▪ Copy of contract or purchase order

▪ Special Bond Forms (if required) & specify how many originals of the bond are needed

Complete work in full – once the project is done, there are times when the obligee (owner) will request a G707 Form. This form will officially close out the job. Status inquiry and contractor’s affidavit will be needed (these forms are provided by the surety company you are placed with). Once we receive these completed forms, we will forward to the bond company for approval. If there is a contract overrun, the additional premium will be billed at that time.

***PERFORMANCE AND PAYMENT BONDS ARE AUDITABLE. WHEN THE JOB IS COMPLETED AND IF YOUR APPROVED BONDED CONTRACT PRICE INCREASES YOU ARE SUBJECT TO AN ADDITIONAL PREMIUM.***

_____________________________________________________________________________

Maintenance Bond Requests

A maintenance bond is occasionally required after you close out the job by whoever required the bid and performance bonds; if needed, contact us for a maintenance bond so you can make any needed repairs while your bond is active. To close out a maintenance bond, a status inquiry and contractor’s affidavit will also be needed.