Contractors bidding on or awarded Michigan public works projects exceeding $50,000 must obtain this bond under the Michigan Public Works Bond Act of 1963 to guarantee project completion per contract specifications. Permittees constructing or reconstructing dams may be required to post this bond by EGLE based on past performance and project risks. Principals…
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.
StateMIBond amount$10,000ObligeeOttawa County Board of County CommissionersBond classPerformance BondCategoryOtherBondPerformance Bond (Individual Project)Plain descriptionHighway EncroachmentWho needs this bondContractors bidding on or awarded Michigan public works projects exceeding $50,000 must obtain this bond under the Michigan Public Works Bond Act of 1963 to guarantee project completion per contract specifications. Perm…
