Date Published: January 29, 2013

Polk County MN requested bids for the supply of 3 SUV’s.  They received one bid that met all the requirements of the RFP except one, the bid did not include the required 5% bid bond.  Obtaining a bid bond for the supply of three vehicles would be a fairly easy task to accomplish.  Bonding is just not something businesses are used to obtaining unless the business is doing public construction.  As the result of the great recession, there has been a definite uptick in bonding requirements for supply and services to municipalities.  The surety industry has responded to this increase in demand with many surety bond carriers willing to entertain non ‘bricks and sticks” performance bond requests.

The surety bond companies pre-qualify the company that is supplying the goods or services.  If the company cannot meet the terms of the accepted RFP or ensuing contract, the bond company stands ready to complete the contract at no additional cost to the tax payer.

Article about rejection of bid because of no surety bond

 

 

How to Get Bonded

1. Apply Online
Using our Free & Secure Application
2. Get Your Free Quote
Applications are No-Obligation
3. Get Your Bond
Most Bonds are Approved in 1-2 Business Days

Surety Bond Experts

Surety1 was founded in 2003 and helps thousands of clients find the best prices on their surety bonds. We take pride in our work so that we can give you great service. Learn more about Surety1.

Get started with the bond application process today.

Most bonds are fully processed within 1-2 business days. In some cases, you'll hear back from Surety1 within hours!