RFP Requiring a Performance Bond

[Bond Guy]

I am deciding whether to bid on an RFP requiring a Performance Bond. The RFP indicates the bond must be 100% of the contract amount, which in this case is $500,000. Could you give me a range of what the premiums would be. I understand it will depend on the credit worthiness of the owners of our company, but I need to get some idea of the premium range. Please help!

[marietta68]

You'll need to provide a little more info regarding the type of work being done and the contracted completion time - there are different rate scales for different types of work, i.e., road paving vs. building construction vs. janitorial services.