A Payment Bond guarantees payment of the contractor’s obligations under the contract for any subcontractors, laborers, materials and suppliers. If a subcontractor is not paid, a “claim” may be made against the bond for non-payment and the surety company will then rectify the situation.
A Performance Bond guarantees the contractor will perform according to the terms of the contract. A Performance Bond protects the owner from financial loss should the contractor fail to complete the project or perform in accordance with the contract.
Final Bond Request Form
(To be used for a bond – performance, payment, maintenance or supply) after contract award)
“We are what we repeatedly do.
Excellence then, is not an act, but a habit.”
-Aristotle
As a minority-owned and certified full-service insurance brokerage and surety bonding firm, The Cayemitte Group is proud to partner with each of its clients to assist in managing corporate risks and position firms for opportunity and growth. TCG’s multidisciplinary approach offers a wide range of strategic, advisory risk management and consulting services, including capital management support. Our unique area of specialty is the development and support of small, veteran, minority and women-owned business enterprises (MWVBEs) via financial and operational capacity-building and education programs to help access capital and open doors to opportunity.
We welcome you to explore how we can be of service to you.