Public Lien & Payment Bonds.

A payment bond guarantees obligations covered by a written agreement between two parties. Payment bonds offer protection to the supplier and subcontractor.  Generally when a public project commences, the municipality that contracted the job will require the general contractor to obtain a payment bond.

Payment bonds guarantee payment of the contractor's obligation under the contract for subcontractors, laborers and material suppliers associated with the project.  Because no liens are available for a public project, bond claims are often the subcontractor or supplier’s best option to secure payment when they are not paid according to their contract agreements.

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Request a Claim Data Sheet for more information.