Release to maintenance

[Numbers]

I got a release for my performance bond and now need a maintenance bond. Are maintenance bond rates similiar to performance bonds?

[Surety Queen]

Originally Posted by Numbers

I got a release for my performance bond and now need a maintenance bond. Are maintenance bond rates similiar to performance bonds?

No, not at all. Maintenance Bond rates are generally much lower than performance bonds. Also, be advised that if a performance bond was issued for a project and a one year maintenance bond is required at it's completion, there may not be any charge for it as it's included in the price of the original bond. If a two year maintenance bond is needed, there would be a nominal charge.