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Indiana Payment Bond

Indiana Payment Bonds ensure that subcontractors, laborers, and material suppliers get paid on construction projects. For public projects over $200,000, this bond is legally required and protects those who provide labor, materials, or services from non-payment. The bond amount equals 100% of the contract price and rem…

Bond amount$200,000
State or jurisdictionIndiana
ObligeePolitical subdivisions, public agencies, and private project owners

Essential point: Pin down whether this is your bond, then start the application. Ava can confirm the right state and license type if you are not sure.

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Overview

What it is.

Indiana Payment Bonds ensure that subcontractors, laborers, and material suppliers get paid on construction projects. For public projects over $200,000, this bond is legally required and protects those who provide labor, materials, or services from non-payment. The bond amount equals 100% of the contract price and rem…

Who usually needs it

General contractors and prime contractors working on Indiana public construction projects estimated to exceed $200,000 must obtain a payment bond. The bond is also commonly required on private projects by contract.

Pricing & timing

What to expect.

Generic pricing

Payment bonds guarantee that a contractor will pay subcontractors, laborers, and material suppliers. Typical Pricing:. • Small contracts: Commonly around 1–5% of the contract value. • Larger contracts: Rates generally scale lower as contract size increases. • Payment bonds: Often paired with performance bonds at a combined rate. • Full underwriting required: Credit, financials, experience, and bonding history reviewed. Payment bonds are required on most public projects alongside performance bonds. The Miller Act requires payment bonds on all federal projects over $150,000. Rates may vary based on risk factors.

Your quote determines the actual premium.

Typical timeframe

Full underwriting required — typically 3–5 business days

Timing can change when underwriting needs more information.
Application details

How it works.

  1. Start the application

    Confirm the bond and provide applicant and business details.

  2. Review the quote

    See the terms and premium before deciding to continue.

  3. Pay and sign

    Complete the required payment and signatures.

  4. Receive the bond

    Get the issued bond and filing or delivery instructions.

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Frequently asked

Common questions.

What is the bond amount required for an Indiana Payment Bond?

The Indiana Payment Bond must be in an amount equal to 100% of the contract price. For public construction projects, this bond is legally required when the project is estimated to exceed $200,000. The bond remains in effect until one year after final settlement of the contract.

Who is protected by an Indiana Payment Bond?

Indiana Payment Bonds protect subcontractors, laborers, material suppliers, and service providers who contribute work, materials, or services to a construction project. The bond ensures these parties receive payment even if the general contractor fails to pay them. It is binding on the contractor, subcontractors, and their successors.

How do subcontractors or suppliers file a claim against an Indiana Payment Bond?

Under Indiana Code § 36-1-12-13.1, claimants must file signed duplicate statements with the political subdivision's board and deliver a copy to the contractor within 60 days of completing their work or furnishing the last materials. The board forwards one copy to the surety. No lawsuit can be filed against the surety before 30 days after filing, and suits must commence within 60 days after final completion and acceptance of the work.

Next step

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