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 …
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 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.
StateWABond amountVaries by license type or projectObligeeCity of Fife, WashingtonBond classPerformance BondCategoryOtherBondPerformance Bond & Performance GuarantyPlain descriptionThis 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…Who needs this bondLicensed 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…
