Secure a Payment Bond with Summit Surety
Performance & payment bonds are our bread and butter. We work with contractors across the United States to ensure they’re properly bonded for public jobs big and small.
Specialty Service
Payment bonds can vary much more across jurisdictions than performance bonds. It’s even more important to have an expert in your corner ensuring you have the bonding you need—no more, no less.
Same- or Next-Day Service
Summit Surety is committed to serving you faster than the competition.
Personal Attention
Big surety houses pencil-whipping applications make costly mistakes. Get personal service from the Summit Surety team.
What’s a payment bond?
Payment bonds are a type of surety bond that guarantee you’ll pay everyone inline to get paid—your employees, subcontractors, and the like.
The federal Miller Act of 1935 requires contractors for all federal projects secure performance and payment bonds. States and local governments followed suit, and today, most states have their own “Little Miller” acts that similarly require performance and payment bonds for public works.
Your ability to bid on public jobs is completely dependent on your ability to get properly and sufficiently bonded.
Why go through Summit Surety for a payment bond?
You could go directly to a surety to get bonded, but much like insurance coverage, working with a broker like Summit Surety ensures you get the right bonding at the right price.
Surety Experts Get You Properly Bonded
Plenty of large companies promise to handle everything from commercial insurance to bonding. But without expert review, you might be left improperly bonded. Performance bond requirements can vary across jurisdictions, and in the private sector, anything goes. Trust Summit Surety to navigate your contracts and requirements.
Don’t Overpay for the Same Bonding
Depending on your financial profile, company history, and sometimes even your personal character, your fee to get bonded can vary. We’ve been building relationships in the surety industry for years and know where to look to find the best pricing.
Maximize Your Bonding Capacity
Even though a payment bond’s coverage requirements can vary by jurisdiction, the fee is always based on the total job cost. You might think that means that coverage doesn’t matter. But knowing the correct coverage requirements and bonding properly can reduce your risk and increase your overall bonding capacity with a surety. With Summit Surety, you’ll never be over-bonded.
Where is Summit Surety licensed?
Summit Surety is licensed to issue bonds in 16 states and counting.
Alaska
Arizona
Colorado
Florida
Hawaii
Idaho
Illinois
Montana
Nevada
North Carolina
Oregon
Tennessee
Texas
Utah
Washington
Wyoming
Contractors Like You Choose Summit Surety for Performance Bonds
Ryan started out with my business when I needed my first construction bond. As a new small electrical contractor getting bonded was not an easy task because I didn’t have a lot of past history. In spite of this, Ryan stepped forward and helped me when other agencies didn’t want to take a chance on the unknown. He has been there for me and helped every step of the way ever since. He is very knowledgeable in his field and makes doing business with him easy & simple. His timely responses for further assistance along with his ability to provide the best cost has kept me coming back to him for bonding. I recommend Ryan to everyone I know both new and older more established businesses.
Deborah Dyson
Electrician, Dyson Electrical Contractors