Bid bonds guarantee that a contractor that is awarded a contract subsequently enters into the contract and also provides any required performance and payment bonds. The amount of a bid bond is usually a certain percentage of the price of the contract.
Qualification for a bid bond demonstrates to the project owner that the contractor should be qualified to undertake the project.
Old Republic Surety Company is a serious contender among super-regional sureties and there's a simple reason for that: relationship. Their fundamental underwriting and problem solving pervades the company. We experienced this first-hand with a rare claim. Old Republic first and foremost took care of the obligee, with a thorough and fair claim process handled by Alan Pavlic. This serious underwriting approach based on relationship continues with our front line underwriter, Kevin Lorenz. Kevin's knowledge and experience has helped us solve many of our client's problems.Christopher Rea
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