Illinois Surety Bonds, Contract Bonds, Bid Bonds, Proposal Bonds, and Performance Bonds for Illinois

Need Contractors Bonding Insurance?
Are you in need of a contractor bond for your Illinois Contractor Company? 
Do you need a bid bond or a proposal bond ?
Are you an Illinois contractor required to provide a performance bond?

It’s a fact, contractor insurance is required today to secure a major project. WM Schwartz offers the contractor surety bonds and the contract bonds you need to get the bid and complete the project. We help you secure bonds issued for Contractors in Illinois and save on contractors surety bond insurance while getting the coverage you need.

What are Illinois Surety Bonds and Contract Bonds?

A contractor license bond is issued when a contractor is awarded a large contract. At that time, the hiring company may require the contractor to provide a contractor surety bond as a guarantee for their work. It provides that the contractor will complete the work within a given time frame, at a given price, and that the contractor will pay all labor and material costs involved in a project according to the terms of the commercial surety bonds.

Types of Contractors Surety Bonds issued to Illinois Contractors

Bid Bonds or Proposal Bonds – A bid bond is one of the types of surety bonds that a contractor places a bid on a project. It’s a guarantee that the contractor who gets the winning bidder will undertake the contract under the terms at which the bid was created.

Performance Bonds – A performance bond is a type of surety bond insurance issued by an insurance company or a bank to guarantee satisfactory completion of a project by a contractor. The performance bond guarantees that contractors will adhere to specific binding terms and will compensate clients (up to the amount of the bond obtained) in the event of a default.

License and Permit Bonds – Certain contractors are required by law to old a license or permit to do business . The license and permit bond is a type of insurance surety bond that compiles with the ordinance of the state and states that the person applying for license will legally carry on the business in their appropriate state. Some types of license and permit bonds include plumbers bond, electrician bond, home improvement bond, auctioneer bond, real estate broker bond, gasoline tax bond, liquor and/or beer bond, fuel dealer bond, and motor vehicles dealers bond.

Get a Free Quote on Contract Bonds and Surety Bonds from Illinois Contract Bonds Specialists Now

illinois contractors insurance

We’d like to help you save on your insurance and get the coverage you need. For more information about surety bonds and contractor license bonds, contractor bonds, and commercial surety bonds in Illinois and to get a quote contact the WM Schwartz at our Illinois office today at 847-996-0002. We are an independent full-service insurance agency and can answer any questions you have and provide you with additional information on the contractors insurance coverage you need.

Providing top information on Illinois Surety Bonds, Contract Bonds, Bid Bonds, Proposal Bonds, and Performance Bonds for Illinois Contractors

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