Skip to Content Old republic surety logo Old republic surety logo
  • About
    • Careers
      • Career Opportunities
      • Great Benefits
      • Culture
    • Our History
    • Our Underwriting Philosophy
    • Branch Locations
    • Executive Team
    • Field Leadership
    • Corporate Governance
    • Corporate Parent Company
      • Why Old Republic?
      • Financial Ratings
      • Old Republic Group of Companies
    • Get Appointed With Old Republic Surety Company
    • Contact Information
  • Contract Bonds
    • Why Old Republic Surety for Contract Bonds
    • Bid Bonds
    • FastBond
    • Maintenance Bonds
    • Payment Bonds
    • Performance Bonds
    • SBA Bond Program
    • Bonds for Growing Contractors
    • FAQ: Contract Bonds
    • Punch List for Contract Bonds
    • Resources
      • Contract Bond Terminology
      • Contract Videos
  • Commercial Surety & Fidelity
    • Types of Commercial Bonds
      • Court Bonds
      • Federal Bonds
      • Fidelity Bonds
      • License & Permit Bonds
      • Miscellaneous Bonds
      • Public Official Bonds
    • Fidelity
      • Business Services Bonds
      • ERISA Bonds
    • Credit-based Performance Bonds
    • BONDSTAR
    • FAQ: Surety Bonds
    • FAQ: BONDSTAR
    • Direct Bill
    • Commercial Resources
  • Claims
    • Commercial Surety Claims
      • Arizona Contractors License Bond Claims
      • California Contractors License Bond Claims
      • Oregon Construction Contractors Bond Claims
      • Property Brokers Surety Bond Claims
      • Washington Contractors Surety Bond Claims
    • Contract Surety Claims
    • Fidelity Claims
  • Blog
  • Contact
ORSC Blog
    • Contract Bonds
    • Surety Bonds
    • Commercial Bonds
    • Bonding Capacity and Bondability
    • Fidelity Bonds
    • Old Republic Surety Employees
    • Subcontractors
    • Underwriting
    • WIP Reports
    • Bond Claims
    • Case Study
    • Corporate Crime and Fraud
    • General Contractors
    • Jobs in Surety
    • Fastbonds
October 27, 2023

Surety Bonds Protect Taxpayers and Subs for Public Projects

Old Republic Surety Old Republic Surety
  • Contract Bonds
Contractors looking at overpass construction

Protect Taxpayers and Subs Public ProjectsDid you know that subcontractors, material suppliers and laborers working on a public project cannot place a lien on such projects? That’s why performance and payment surety bonds are so crucial. A bond is also a sort of imprimatur for use of a contractor since the surety thoroughly investigates the reliability of the parties it backs and gives its quality stamp to the contractor by way of a financial guarantee the contractor will perform as agreed.

Surety bonds are also extremely important to protect taxpayer funds that are dedicated to public projects. For example, if a contractor cannot complete a highway or bridge project and defaults in the middle of the job, the surety issuing the performance bond will find a qualified contractor to finish the work. Bid bonds are the way sureties protect taxpayers from having to pay for a rehash of the entire bidding process when a selected bidder cannot fulfill its promises.

With many more bonds and benefits than just these, it may surprise you to find that some states are making it easier for firms without bonds to participate in public projects. Read more about the value of bonds in protecting stakeholders in public and public/private projects in a PC360 article by John Estes, branch manager in Charlotte, N.C., for Old Republic Surety, at https://bit.ly/3ZtTvZM.

Topics Covered

  • Contract Bonds

Recent Posts

Contract Bonds 1 min read
Getting Paid on Federal Projects: How Subcontractors Can Obtain Payment Bond Information
x Rudy Dominguez August 15, 2025
Old Republic Surety Employees 1 min read
Charity Year in Review 2024
x Old Republic Surety August 08, 2025
Old republic surety logo
  • Careers
  • Blog
  • Pay Online
  • Agency Login
18500 W Corporate Drive, Suite 170, Brookfield, WI 53045
800.217.1792
©2025 Old Republic Surety Company All rights reserved.
  • Privacy Policy
Old Republic Insurance Group logo