Get Your FREE California Contractor's Bond Quote Today

It's Fast, Free, and There's No Obligation

Get Your FREE California Contractor's Bond Quote Today

It's Fast, Free, and There's No Obligation

Payment Bond


Scheduler Insurance & Bonding Services specializes in Payment Bonds for California contractors. Have questions or would you like to request a quote? Please give us a call or complete the contact form on this page and a surety bond specialist will contact you shortly.

What Is A Payment Bond?

A payment bond ensures that a contractors material suppliers and subs are paid according to contract and is very commonly used on public projects where mechanics liens are not allowed. A payment bond is a type of contract bond that is often packaged with a performance bond by many sureties. The need for a performance bond and payment bond often arises out of a contractor successfully winning a public job opportunity and posting a bid bond in the process.

 

How Much Does A Payment Bond Cost?

Payment bond costs can vary but are often around 3% of the contract amount assuming the applicant has sound financials. For example, if your bond requirement is for $200,000, then a 3% premium would translate to a $6,000 bond cost. Payment bond costs will depend on several factors including the financial strength, credit score and experience of the contractor requesting the bond.

 

Getting A Payment Bond Quote

Getting a payment bond quote is simple. Just complete the quote form on this page and a Schaedler Insurance contract bond specialist will follow up with you promptly to provide the appropriate application for your particular bonding needs and answer any questions you may have. In a rush? Call our office now at 1-800-682-1552 and we can expedite your application with our underwriters.

 

Have Bonding Questions?

Call Us At 1-800-682-1552 To Speak With A Contractors Bond Specialist!

Office Hours: Monday-Friday 8:30am-5:00pm