Are performance and payment bonds priced together?

Yes, performance and payment bonds are typically sold as a package (P&P bond) at a single combined rate. The package costs 1-3% of contract value - slightly more than a performance bond alone but better value overall.

Performance Bond Calculator

Performance Bond Cost Calculator for Contractors

Calculate performance bond costs using industry-standard sliding scale rates. Rates from 0.5% to 3% based on contract size.

Performance Bond Cost Calculator

Performance Bond Cost Examples

Contract Value

Rate Range

Annual Premium

$100,000

1.0% - 2.5%

$1,000 - $2,500

$500,000

0.8% - 1.9%

$4,000 - $9,500

$1,000,000

0.65% - 1.5%

$6,500 - $15,000

$5,000,000

0.5% - 1.0%

$25,000 - $50,000

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Performance Bond Calculator FAQs

How much does a performance bond cost?

Performance bonds cost 0.5% to 3% of contract value depending on project size, contractor qualifications, and credit. Our performance bond cost calculator uses sliding scale rates - larger projects get lower effective rates. A $1M contract costs $6,500-$15,000.

What is a performance bond?

A performance bond guarantees that a contractor will complete a project according to contract terms. If the contractor defaults, the surety pays to complete the work or compensates the owner. It's a three-party agreement between owner, contractor, and surety.

Should I get performance and payment bonds together?

Yes, the P&P bond package typically costs only 10-20% more than a performance bond alone, while adding crucial payment protection. Use our payment and performance bond calculator for combined pricing. Most public projects require both.

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