Contractor Payment Bonds
The best payment bonds for contractors. Period.
Need a payment bond for your next project? Our process is simple, fast, and entirely online.
Our partnership with Propeller connects you with a trusted platform offering access to over 7,000 instant-issue surety bonds, including contract, commercial, and fidelity bonds. Propeller’s automated system eliminates the paperwork and delivers reliable protection in minutes.
What Is a Payment Bond?
A payment bond ensures that subcontractors, suppliers, and laborers get paid for their work, even if the contractor fails to do so. These bonds are commonly required in construction projects, especially public ones, and are often paired with performance bonds.
- Provide financial protection to project participants
- Reduce risk for suppliers and subcontractors
- Build trust and credibility for contractors
- Help meet bid requirements on public jobs
Without a payment bond, subcontractors and suppliers take on significant risk. Propeller gives you a fast, affordable way to eliminate that risk.
How Do Payment Bonds Work?
A Payment Bond Involves Three parties
Principal
The contractor purchasing the bond
Obligee
The project owner or public agency requiring the bond
Surety
The insurance company guaranteeing payment
If a subcontractor or supplier isn’t paid, they can file a claim against the bond. If the claim is valid, the surety pays out—protecting those who worked on the project and ensuring legal compliance.
With Propeller, the entire process is digital and streamlined. Get bonded quickly so you can move forward with confidence.
Why Payment Bonds Matter
Contractors need to build trust. Project owners need assurance. Subcontractors and suppliers need to get paid. A payment bond:
Ensures Subcontractors & Suppliers are Compensated
Meets legal requirements for many government contracts
Protects all parties from financial disputes
Strengthens your credibility as a contractor
We make it easy to secure payment bonds and other surety products through one intuitive platform. Whether you’re working on a local project or a multi-state operation, we offer coverage in all 50 states and Washington, D.C.