Bid and Bond Premiums

[Bond Guy]

Should the premium of a bond be included in the amount of the bid? I am bidding soon on a pjoject and I want to include it it the bid....at least I think I should. Thanks.

[Surety Queen]

Originally Posted by Bond Guy

Should the premium of a bond be included in the amount of the bid? I am bidding soon on a pjoject and I want to include it it the bid....at least I think I should. Thanks.

Absolutely! All (or most) Obligees fully expect to pay for the bond - but they will rarely reimburse you after a contract has been signed if the premium was not included. It is standard practice to include the cost of the performance & payment bond in your bid price.