Menu

Bonding Amount

CaliforniaBond Claims

If a GC is required to provide a construction bond for a $30 million project by the developer and the developer is requesting that the GC provide 100% bonding, will sureties provide a bond that covers the full 100% amount? I am hearing from other contractors that bonding for 100% of the contract value is not typical. Any clarification on the matter would be appreciated.

1 reply

May 4, 2022
More information is needed. If the Developer is requesting a performance and payment bond, then, yes, the penal amount of the bonds is typically for the entire amount of the contract price.
0 people found this helpful
Helpful