What’s are Caltrans bonds?

The California Department of Transportation—Caltrans—requires performance and payment bonds when bidding on their jobs. Many elements of these bonds aren’t unlike other performance and payment bonds, and they’re one of many bonds that California public works contractors often wind up needing.

Why go through Summit Surety for a Caltrans bond?

Big surety houses that aren’t paying close attention might get you approved for performance and payment bonding just like any other California public works project. But Caltrans’s bonding requirements differ slightly from California’s Little Miller requirements. You can bid on a Caltrans project with a 50% performance bond rather than a 100% performance bond.

While this won’t save you anything on bonding fees, securing only the bond capacity you need for a Caltrans project has other benefits. That 50% reduction in required coverage:

• Frees up your aggregate limit, or bonding capacity, for other projects
• Improves your approval odds at underwriting
• Reduces your indemnity exposure—just because you’re bonded doesn’t mean the surety won’t come after you to make them whole.

A surety broker either knows or they don’t. We’ve been working in California for a long time and are experts in all kinds of bonds needed for contracting work across the state. Meet with an expert at Summit Surety and never worry about getting bonded properly again.

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Contractors Like You Choose Summit Surety for Caltrans Performance & Payment Bonds