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Platinum Bonds Insurance Agency

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Performance Bond & Performance Guaranty

This bond is required by the City of Fife, Washington for contractors or businesses that agree to complete a specific project or service for the city. It protects the city by guaranteeing that the contractor will finish the work as promised, according to the contract terms. If the contractor fails to complete the job …

Bond amountVaries by license type or project
State or jurisdictionWashington
ObligeeCity of Fife, Washington

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.

Google icon5.0 ★★★★★Google review profileBBB iconBBB A+ AccreditedView the agency profile
2323 yearsHelping clients and agents
Overview

What it is.

This bond is required by the City of Fife, Washington for contractors or businesses that agree to complete a specific project or service for the city. It protects the city by guaranteeing that the contractor will finish the work as promised, according to the contract terms. If the contractor fails to complete the job …

Who usually needs it

Licensed general contractors in Washington State who are awarded public works contracts for projects typically exceeding $150,000 must obtain this bond as required under RCW 39.08.010. The bond guarantees the contractor will complete the project per contract terms and protects public entities (such as cities, towns, fire districts, port districts) from fina…

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.

Platinum Bonds

Experience behind every bond.

Helpful guidance, a real agency team, and a clear path from research to application.

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“My bond application was processed and received very quickly.”

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“I highly recommend you do business with these folks.”

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23 years

Offering service to clients and agents alike.

Next step

Ready to move forward?

Start the secure application with this bond already selected, or ask Ava a question before you begin.

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