
Payment Bonds
Payment Bonds
A payment bond provides a guarantee that the contractor will pay the complete costs of labor, materials, and other services related to the project for which the contractor is responsible according to the construction contract.
How is the cost of a bond determined?
Some contract surety bond costs are related to a contractor’s qualifications, while others are based on the scope of work or the classification of construction work that is being completed. The contract price is also a factor. Learn more about how the cost of a bond is determined from our Blog.

New to contract bonds? We have the answers to all your questions.

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Old Republic Surety is not just another surety market, but is an essential part of our agency team. They apply common sense underwriting for both big and small contractors. We believe that relationships are the cornerstone of any successful business, and we pride ourselves in providing sound advice and unparalleled customer service. Old Republic Surety shares those same values.

Andy Paffenbarger
Managing Partner
Paffenbarger & Walden, LLC / Phoenix, AZ
Paffenbarger & Walden, LLC / Phoenix, AZ