New York Maintenance Bond

New York Maintenance Bond

New York Maintenance Bonds

are a type of surety bond purchased by a contractor that protects the owner of a completed construction project. Maintenance bonds are in place for a specified time period against defects and faults in materials, workmanship, and design that could arise during a "warranty" period. Maintenance bonds are often required on state and public construction projects and, less often, on private construction jobs.

New York Maintenance Bonds

are requested and provided at various stages of the bidding process. Once a contractor decides to bid and obtain a public works job, he or she will most likely be required to submit a bid or bidders bond with the project. These are usually either a percentage of the total job or a flat sum.

If the contractor is "low bidder" or otherwise selected for the job, the contractor may be require to submit a "final bond." These bonds are usually payment and performance bonds, completion bond, Maintenance or labor & materials. There are several types but this will give you an idea.

Maintenance

Completion, Payment and performance bonds may be required once the contractor has been awarded a job. These bonds are also known as warranty bonds. As mentioned, there are many types of these bonds. The contract will specify what is required.

Additional Information

Obtaining a New York Maintenance Bond at Jane Bond Surety is simple.
Many bonds can be obtained in as little as an hour. Some take longer. Use the highlighted bullet points above to determine what you can expect when applying for this bond. Many (not all) bonds require a credit check. In many instances it simply depends on the actual bond one is applying for and the insurance company's experience in that category. Some bonds are considered low risk and some are considered higher risk. Bonds that do not require a credit check are usually instantly issued.

We, at Jane Bond Surety & Insurance, take your New York Maintenance Bond very seriously. We also consider the cost. We make every effort to obtain the quickest bond at the lowest rate. If at any juncture you have any questions call us at: 1-844-933-4455.

The Process