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…
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 amount$15,000ObligeeCity of Tacoma, WashingtonBond classPerformance BondCategoryOtherBondPerformance BondPlain descriptionGeneral Contractor - 3rd Party LiabilityWho needs this bondContractors (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 'Litt…
