Multiple Bonds

[Mother Bond]

I need to obtain a performance bond for a rather large contract... is it possible to get multiple bonds from different sureties adding up to the contract amount, instead of one bond for the entire amount?

[Surety Queen]

Originally Posted by Mother Bond

I need to obtain a performance bond for a rather large contract... is it possible to get multiple bonds from different sureties adding up to the contract amount, instead of one bond for the entire amount?

It really depends upon the amount of your "rather large contract." Generally there would be one bond with one Surety for one project. However, if you are talking about a multi-million dollar contract, then there could be more than one Surety involved.

[bondman]

Its quite common on larger performance/payment bonds for co-surety arrangements to be in place. The number of suretys involved can be upto 4 or 5 depending on value.