When bidding on public construction projects, one of the most important requirements is obtaining a Bid Bond. This type of surety bond ensures that contractors submit serious, qualified bids and are financially capable of taking on the project if awarded. At Blaikie Group, we are one of the nation’s largest volume surety bond producers, helping contractors across the country secure the Bid Bonds they need—quickly, affordably, and with expert support.

What Is a Bid Bond?

A Bid Bond is a type of surety bond that guarantees the contractor who submits a bid on a public or private construction project will honor their bid and, if selected, enter into a contract and provide the required performance and payment bonds. The Bid Bond protects the project owner (usually a government entity or private developer) from financial loss if the winning bidder backs out or fails to meet the contract requirements.

Without a valid Bid Bond, a contractor may not be eligible to submit a bid on public jobs or large-scale private projects. The bond is a critical part of the prequalification process and demonstrates a contractor’s financial responsibility and commitment.

Who Needs a Bid Bond?

Bid Bonds are required for most public construction projects at the federal, state, and municipal levels. In addition, many private project owners also require them to ensure they are working with reputable, financially secure contractors. Common types of contractors who need Bid Bonds include:

• General contractors
• Subcontractors
• Commercial builders
• HVAC, electrical, and plumbing contractors
• Road, bridge, and utility contractors

If you’re planning to bid on any public works project, a Bid Bond is likely mandatory. Blaikie Group works with contractors in all 50 states to ensure they meet bid deadlines and bonding requirements with confidence.

Why Choose Blaikie Group for Your Bid Bond?

• Nation’s Largest Volume Bond Producer – We issue more surety bonds than most agencies, allowing us to pass along the best rates and service.
• Lowest Rates on Bid Bonds – Our relationships with top-rated surety carriers help us secure competitive pricing for your Bid Bond.
• Fast, Free Quotes – Apply online and receive a no-obligation quote for your Bid Bond in minutes.
• Same-Day Service – We understand how tight bid deadlines can be. In most cases, we can issue your Bid Bond the same day.
• Expert Construction Bond Support – Our team understands the construction industry and can help you prepare for your bond, increase your bonding capacity, and position your business for long-term success.

How Much Does a Bid Bond Cost?

Bid Bonds are usually free of charge for qualified contractors. Most surety providers do not charge a premium for issuing a Bid Bond because it is part of a contractor’s prequalification process for obtaining performance and payment bonds. However, the contractor must be approved by the surety and have an active bonding line in place.

If you’re a new contractor or unsure whether you qualify, Blaikie Group can guide you through the underwriting process and help you get approved quickly. We work with contractors of all sizes—from startups to multi-million dollar firms.

What Happens If a Bid Bond Is Called?

If a contractor wins a bid but fails to sign the contract or provide the required performance and payment bonds, the project owner can file a claim against the Bid Bond. The surety may be responsible for paying the difference between the original bid and the next lowest bid, up to the bond’s limit—typically 5%, 10%, or 20% of the total bid amount.

The contractor will then be liable to reimburse the surety for any amount paid out on the claim. This is why it’s essential to submit accurate bids and be confident in your ability to complete the project if selected.

How to Get a Bid Bond

Getting your Bid Bond with Blaikie Group is fast and straightforward. Our streamlined application process can be completed online in minutes. For larger projects or contractors new to bonding, our expert agents will help you assemble the required financial documents and underwrite your bonding line.

Once approved, we can issue Bid Bonds for all your future projects with minimal turnaround time. Our team will be by your side as your business grows, helping you increase your bonding capacity and qualify for larger contracts.

Build Trust with a Bid Bond

A Bid Bond tells project owners that you are financially stable, serious about your work, and capable of following through on your bid. It gives you a competitive advantage and positions your company as a trustworthy partner on public and private projects alike.

Apply for Your Bid Bond Today

Blaikie Group is here to support contractors across the country with fast, affordable Bid Bonds. Whether you’re bidding on your first job or your hundredth, we’re ready to help you win the work and grow your business. With free quotes, low rates, and expert guidance, there’s no better place to get bonded than with Blaikie Group.

Request your free quote now and secure your Bid Bond with confidence.