City of Seattle, Washington - Ordinance Bond (performance obligations)
General Contractor - Bond runs to Municipality
Overview
What it is.
General Contractor - Bond runs to Municipality
Who usually needs it
Contractors bidding on or awarded public works contracts with the City of Seattle are required to obtain this performance bond. It is mandated by RCW 39.08.010 for public works projects over $35,000, guaranteeing that the contractor will complete the contract according to its terms, pay subcontractors, laborers, and suppliers, and cover related taxes or pen…
Pricing & timing
What to expect.
Generic pricing
Performance bonds guarantee that a contractor will complete a project according to the contract terms. Typical Pricing:. • Small contracts: Commonly around 1–5% of the contract value (one-time upfront premium). • Larger contracts: Rates generally scale lower as contract size increases. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. • Full underwriting required: Credit, financials, experience, and bon…
Typical timeframe
Full underwriting required — typically 3–5 business days
Application
What to do next.
Tell us the bond name, state, and amount on your form.
Share business and applicant info so the team can quote it.
Sign and pay; we issue the bond and send you the documents.
Keep your effective date and renewal date on file with us.
Start the application.
You are on the exact bond page. The next step is to start the quick application.
StateWABond amountVaries by license type or projectObligeeCity of Seattle, WashingtonBond classPerformance BondCategoryOtherBondCity of Seattle, Washington - Ordinance Bond (performance obligations)Plain descriptionGeneral Contractor - Bond runs to MunicipalityWho needs this bondContractors bidding on or awarded public works contracts with the City of Seattle are required to obtain this performance bond. It is mandated by RCW 39.08.010 for public works projects over $35,000, guaranteeing that t…
