A Performance and Maintenance Bond is a financial guarantee required by the City of Smithville, Missouri for contractors working on city projects. This $25,000 bond protects the city by ensuring the contractor completes the work as agreed and properly maintains it for a specified period. If the contractor fails to fin…
Overview
What it is.
A Performance and Maintenance Bond is a financial guarantee required by the City of Smithville, Missouri for contractors working on city projects. This $25,000 bond protects the city by ensuring the contractor completes the work as agreed and properly maintains it for a specified period. If the contractor fails to fin…
Who usually needs it
General contractors and principals bidding on or awarded Missouri public construction projects valued over $25,000 must obtain this bond. The requirement stems from Missouri's Little Miller Act to protect project owners from contractor default and ensure completion per contract specifications and payment to subcontractors and suppliers.
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.
StateMOBond amount$25,000ObligeeCity of Smithville, MissouriBond classPerformance BondCategoryOtherBondPerformance and Maintenance Bond, $25,000Plain descriptionA Performance and Maintenance Bond is a financial guarantee required by the City of Smithville, Missouri for contractors working on city projects. This $25,000 bond protects the city by ensuring the contractor completes…Who needs this bondGeneral contractors and principals bidding on or awarded Missouri public construction projects valued over $25,000 must obtain this bond. The requirement stems from Missouri's Little Miller Act to protect project owners…
