Enhance the Credibility Of Your Construction Business

Our Bond Services

Our services include, but are not limited to, the following:

• Financial analysis
• Frequent handling of accounts to foster a productive and long-lasting contractor-surety-agent partnership
• Prompt issuance of approved bid, performance, and payment bonds
• Contract review and analysis
• Issuing good guy or bondability letters
• Dun & Bradstreet (D&B) reports
• Bond delivery when warranted

By staying up to speed with the new and revised bond forms of different project owners, we are able to issue the appropriate bond accurately in a timely fashion so that our contractors are not delayed in getting the required documents for each and every step along the way of their projects.

Types of Surety Bonds for Contractors

With our broad access to bond markets, H&A wants to help you build a bonding history that will allow you the flexibility and support needed to grow. We provide the following contract bonds:

• Bid Bond: This bond needs to be in place when contractors submit project bids. The purpose is to ensure that contractors will take on the job in the event they are awarded the bid. It also guarantees that contractors will do the project at the price submitted in the bid, and effectively promises they will procure a Performance bond before starting work on the project.
• Performance Bond: Typically required for construction projects, this bond guarantees contractors will fulfill all their obligations, and perform according to standards and conditions set out in the contract for the project. It also guarantees compliance with state regulations for licensed contractors.
• Payment Bond: Guarantees all payments that are due to subcontractors, laborers, and suppliers from the contractor.
• Maintenance Bond: Ensures a contractor remedies any defects or the owner is compensated for any defects that may have occurred throughout the construction project. These bonds are only valid for a limited time and only protect against problems that emerge during that time.
• Wage & Fringe Bond: This bond is used in negotiating collective bargaining agreements with companies. If a union member company fails to uphold its obligations under the bond’s terms, the bond amount can be used to pay claims for salary, wages, fringe benefits, and/or compensation for services rendered by employees represented by the union. Each wage and fringe bond is unique depending on the union that requires it.
• Right-of-Way (ROW) Bond: Right-of-way extends a number of feet from the curb toward the property, and it is that section that certain contractors may have work to perform on. Work performed on the right-of-way may include installing or repairing utilities, signals, sewers, sidewalks, streetlights, and more. A Right-of-Way Bond is typically required of contractors or developers who connect their development to a public road and must be posted prior to beginning work. Often such a bond is also required in order to obtain a right-of-way permit before work can commence. The bond guarantees that bonded contractors will comply with their permit or license conditions and perform according to the contract.
• Release-of-Lien Bond: This bond may be required to remove a lien on a property, and is designed to replace the property as security for the lien.

In addition to contract surety bonds, we can quickly and efficiently handle your license & permit (L&P) permit and licensing bonds and miscellaneous surety bonds.

Our Commitment to You

At Haughn & Associates (H&A), our core values and principles of integrity, honesty, dependability, innovation, and collaboration shape who we are and guide us; they ultimately allow our team to provide our clients with high-quality insurance products and an unparalleled level of superior service. Each business, family, and individual is given the personalized attention needed to design the right fit of insurance and risk management protection for your insurance package.