BID BONDS

KOG International is a Surety Bond Broker Specializing in Construction Bid Bonds.

• As a contractor bidding on public projects, your ability to grow the business and bid on larger projects depends on getting bigger bonds at the right rate.  Perhaps you are having a problem getting a construction Bid Bond.  As one of the Northeast‘s most experienced surety bond brokers, KOG International partners with start-ups and medium-sized contractors to quickly obtain construction Bid Bonds that qualify you for public works contracts. 
• Known for our competency and professionalism, we understand the construction bid bond system and assist you in the application process to meet the construction bond underwriting requirements.  Through our proprietary process, we have a successful track record of helping contractors with challenging credit histories qualify for surety bonds.  Our experience and long-term relationships with senior level underwriters enables us to secure construction Bid Bonds typically unobtainable by other surety bond brokers.
• Bid Bonds are required for all public bids.
• Construction Bid Bonds guarantee that the contractor will enter into a contract with the owner or forfeit the Bid Bond as compensation to the owner if the job must rebid or awarded to the higher-priced second bidder.

How Do Bid Bonds Work?

• Bid bonds will submitted with your proposal to the organization obligated to finish the construction project. If your bid is incomplete, a claim will be filed on your bond that you must pay, and you will likely lose the job.
• Bid proposals without a valid bond included will be rejected. If you are awarded the job, you commonly will have to provide a performance bond to start the project.