We have a client who signed a contract on 08-6-21 and we will beginning her project soon. The contract sum is $130,584.00 My understanding is that payment and performance bonds are meant for public works projects exclusively and that pre liens is what you pull for home owners and private jobs. Does this home owner qualify to get a payment and performance bond? and if so how do i go about getting that and do you offer these services? Do i still pull a pre lien first?
Payment and performance bonds are not for public works exclusively and serves a different purpose than a lien (although there is some overlap on the payment side of the bond). payment in performance bond is something you get from a bonding company. If you shoot me an email I can probably point you in the direction of some people that can talk to you about getting a P&P bond.
A prelim is still a good idea.