Platinum Bonds Insurance Agency
Research before you apply.General Contractor - 3rd Party Liability
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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BBB A+ AccreditedView the agency profileGeneral Contractor - 3rd Party Liability
Contractors (persons or corporations) awarded public works contracts valued over $35,000 from Washington state, county, municipal, or other public bodies must obtain this bond. The bond is mandated by Washington's 'Little Miller Act' (RCW 39.08.010) and guarantees faithful contract performance, payment to laborers, mechanics, subcontractors, and material su…
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.Full underwriting required — typically 3–5 business days
Timing can change when underwriting needs more information.Confirm the bond and provide applicant and business details.
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Complete the required payment and signatures.
Get the issued bond and filing or delivery instructions.
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“I highly recommend you do business with these folks.”
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