Performance bond
A performance bond is a surety's guarantee that a contractor will finish the work as the contract says.
If the contractor defaults, the surety pays to complete the job, up to the bond amount.
On a real bid
On public construction a performance bond is usually 100 percent of the contract and is paired with a payment bond that protects subcontractors and suppliers.
The winning bidder provides it after award and before work starts.
Where Capveon reads it
Capveon finds the bond requirements in every bid package and lists them together, so your surety hears about them before the bid is due.
