Bid Bond Guide: Free Bid Bonds, Cost & How to Get Bonded
- Construction & Contractor Bonds
- Posted On
by A bid bond guarantees that if your construction bid is accepted, you will enter into the contract at your bid price and provide the required performance and payment bonds. Bid bonds are issued 100% FREE by BondsExpress — you pay nothing until you win the project. You can get a bid bond with bad credit, and most approvals happen within 24 hours.
What is a Bid Bond?
A bid bond guarantees that if your construction bid is accepted, you will:
- Enter into the contract at your bid price
- Provide the required bid and performance bonds for the project
The best part? Bid bonds are issued 100% FREE by BondsExpress.
You don’t pay anything until you win the project you’re bidding on.
How Bid Bonds Work
Three parties are involved:
- You (the Contractor) — Submit bid + free bid bond
- Project Owner — Requires bid bond to accept bids
- Surety Company — Guarantees your commitment
If you refuse to proceed after winning the bid, the project owner can claim compensation from the surety (typically the difference between your bid and the next lowest bid).
How to Get a Bid Bond in 3 Easy Steps
- Step 1: Apply Online (5 Minutes)
Required bond amount, No hard credit check, Basic project information, Estimated contract amount, We NEVER share your data
- Step 2: Get Approved (Same Day)
High approval rate, Decision within 24 hours, Digital copy sent instantly
- Step 3: Submit Your Bid (FREE)
Include bid bond with your bid, Valid until contract is awarded, Only pay if you WIN the project, Seamless transition to performance bond
Can You Get a Bid Bond with Bad Credit?
YES! BondsExpress specializes in bad credit bid bonds.
Our Bad Credit Bid Bond Program:
- Available in ALL states
- Approval based on contractor experience — and financial statements
Your bid bonds are ALWAYS FREE regardless of credit.
How Much Does a Bid Bond Cost?
$0.00 — Bid bonds are always FREE at BondsExpress.
You only pay if you win the project and need performance/payment bonds.
What Do You Need to Get a Bid Bond?
Basic Requirements
- Project bid information
- Estimated contract amount
- Company and ownership information
For Bids Over $1 Million
- Personal and Business Financial Statements
- Work in progress schedule
- Bank references
- Resume of experience
Bad Credit Applicants May Additionally Need
- Business and Personal Financial Statements
- Bank Statements
Bid Bond vs Performance Bond: What’s the Difference?
| Bid Bond | Performance Bond |
|---|---|
| FREE — No cost | 3% — Standard Rate |
| Required BEFORE contract award | Required AFTER winning bid |
| Guarantees you’ll accept the contract | Guarantees project completion |
| Valid during bidding period only | Valid throughout project duration |
Both bonds work together:
- Submit FREE bid bond with your bid
- If you win, obtain performance bond
- Collateral options available
- Complete the project per contract terms
Frequently Asked Questions About Bid Bonds
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Do I really not pay for a bid bond?Correct. Bid bonds are 100% FREE at BondsExpress. You only pay if you win the project and need a performance bond.
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Can I get a bid bond with bad credit?Yes. Our bad credit program is specifically designed for contractors with challenged credit, bankruptcies, or no bonding history.
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How long does it take to get a bid bond?Most bid bonds are approved within 24 hours. Digital copies are sent immediately upon approval. Overnight delivery available for physical bonds.
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How do I apply for a bid bond?Click “Apply Now” above, fill out the 5-minute application, and get approved within 24 hours. No hard credit check required.
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