Performance bond costs typically range from 1% to 3% of the contract amount, depending on factors such as credit score, business experience, financial strength, and project size. This guide explains how performance bond pricing works, what affects your premium, how contractors qualify, and strategies for obtaining the most competitive rates on public works, commercial, and government construction projects.

Surety bond approval is often faster than most people expect, with many applicants receiving same-day approval. However, timing depends on factors like credit, bond amount, and application accuracy. This guide explains how fast you can get a surety bond, what can delay approval, and how to speed up the process so you can get licensed or start your project without delays.