A Completion Bond is a financial guarantee required by the City of Longview, Texas for anyone undertaking a construction or development project within city limits. This bond protects the city and its residents by ensuring that if a developer or contractor starts a project, they will finish it according to approved pla…
Overview
What it is.
A Completion Bond is a financial guarantee required by the City of Longview, Texas for anyone undertaking a construction or development project within city limits. This bond protects the city and its residents by ensuring that if a developer or contractor starts a project, they will finish it according to approved pla…
Who usually needs it
Contractors (including general contractors, prime contractors, and sometimes subcontractors) bidding on or awarded construction projects in Texas, particularly for state-funded projects valued at $25,000 or more, must obtain this performance bond to guarantee project completion according to contract terms and specifications as required by Texas Government C…
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.
StateTXBond amountVaries by license type or projectObligeeCity of Longview, TexasBond classPerformance BondCategoryOtherBondCompletion BondPlain descriptionA Completion Bond is a financial guarantee required by the City of Longview, Texas for anyone undertaking a construction or development project within city limits. This bond protects the city and its residents by ensuri…Who needs this bondContractors (including general contractors, prime contractors, and sometimes subcontractors) bidding on or awarded construction projects in Texas, particularly for state-funded projects valued at $25,000 or more, must o…
