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Performance and Maintenance Bond, $25,000

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…

Bond amount$25,000
State or jurisdictionMissouri
ObligeeCity of Smithville, Missouri

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.

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 bonding history reviewed. Performance bonds are typically required for public construction projects and many private projects. Bond amounts are usually 100% of the contract value. Rates may be higher when risk factors a…

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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Next step

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