Surety bonds and insurance policies are  underwritten in an entirely different manner. Our team has 100+ years of collective surety industry experience. This deep understanding of how surety underwriters assess risk allows us to best position you to maximize your surety terms.

Our agency maintains relationships with 30+ different surety carriers. This sheer access to a wide variety of surety carriers allows us to position your company with the best surety partner for not only today, but to support your business plan moving forward.

As bond underwriters we noticed that a great deal of the information requested was unnecessary in order to make a decision on a particular bond request. As a result, we've streamlined our agency's qualification process to only obtain the information that is absolutely necessary for an underwriter to make a decision.  

Speed and responsiveness are the cornerstones of our service model. No matter the size of your business or frequency of your bond needs, when you partner with Catalyst, you're part of the family. Each and every one of our clients enjoys the same consistently quick service. 

We want to know you, not just your paper trail. We go to bat for businesses we believe in, thus we want to have a deep understanding of your business plan. If your plan is to grow, we arm you with a suite of resources and industry insights to help you on your growth journey.

A surety bond is a three party agreement where the surety guarantees the fulfillment of an obligation that one party (the principal) has promised to fulfill on behalf of another party (the obligee). 

Bid bonds guarantee that a bidder on a contract will enter into the contract if awarded the project and furnish the required payment and performance bonds. 

Bid bonds are typically required to be in the amount of 5% of the total bid amount for most projects other than federal projects (the federal government requires bid bonds to be 20% of the total bid amount).

Surety companies generally do not charge a premium for bid bonds as the premium charge arises when performance and payment bonds are issued. However, a contractor must qualify for the bid bond with a surety company prior to the surety approving the bond.

Performance bonds guarantee that a contract will be completed in accordance with the terms and conditions of the contract.

Performance bonds are generally issued in an amount equal to 100% of the contract value.

The typical premium cost for a performance bond ranges from 0.5% to 3% of the contract price. The exact pricing depends on the size of the bond and the overall creditworthiness of the contractor in the eyes of a surety underwriter. Performance bonds and payment bonds are provided together for one premium charge.

Payment bonds guarantee suppliers and subcontractors are paid for work performed under the bonded contract.  Payment bonds are typically required by a project owner in conjuction with a performance bond.

Payment bonds are generally written in an amount equal to 100% of the contract value.

Payment bonds are typically required to be provided along with a performance bond for a specific contract. The typical premium cost for a performance and payment bonds ranges from 0.5% to 3% of the contract price (both bonds provided for one premium charge). The exact pricing depends on the size of the bond and the overall creditworthiness of the contractor in the eyes of a surety underwriter. 

How quickly we can get you your bond largely depends on how quickly you can get us the information we need to get to work. After we get the required underwriting information, our goal is to be back to you with terms within one business day.

There is no premium charged for a bid bond - you only pay premium on a contract bond if you are awarded a contract and need performance and/or payment bonds. 

The premium sureties charge for performance and payment bonds typically ranges from 0.5% to 3% of the contract price. The exact pricing a surety will offer your company all depends on the size of bond you need and your underwriting profile.