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Warranty and Maintenance Bonds

Warranty and Maintenance Bonds

A Warranty and maintenance bond is a type of contract performance bond. They are provided as a guarantee that the work completed for a contract will stay in a satisfactory condition for a set period of time after the job is complete. The warranty & maintenance bond ensures that the contractor will maintain the project to the required standards; if they don’t, the obligee (the person who requires the bond) will be able to receive financial compensation from the surety provider to get the issues fixed themselves. Unlike many other types of surety bonds, warranty and maintenance bonds are not issued until the job is completed. These types of bonds are often required by government entities and the length of the warranty is often determined by the ordinance or statute governing the contract.

Obtain a warranty and maintenance bond

Do you need a warranty or maintenance bond? The team at Viking Bond Service can help. We’re one of the leading providers of warranty & maintenance bonds in the United States, helping you obtain the bond you need for your business. Our friendly team of experienced staff can help make the application process for your warranty and maintenance bond quick and easy. To help expedite the process we’ve outlined some of the key steps below.

How to obtain warranty bonds: the key parties involved

Your warranty and maintenance bond will involve three parties. These are:

  1. The principal, is the person who obtains the bond (you).
  2. The obligee, is usually a government or business entity that requires the bond.
  3. The surety, is the underwriter who issues the bond.

How to obtain warranty bonds: the required paperwork

To obtain warranty bonds you must submit a completed application and provide the required supporting documentation. Required documentation often includes a credit report, business financial statements, and a business resume. You’ll often be provided with a document checklist as part of the application process.

The cost of warranty bonds

Warranty bond costs will be influenced by many factors. These factors include the amount of the required bond, the state the bond is issued in, the credit score of the principal applicant, and the type of bond required.

How to obtain warranty bonds from Viking Bond Service

Viking Bond Service can help with all of your warranty and maintenance bond needs. You can start your warranty bond application in three ways; on the phone, via email, or through our online application form. We generally provide quotes for bonds with 24 hours of the application. Our team works hard to ensure a quick turnaround time to help you get the warranty bond for your business as soon as possible.

Request a warranty and maintenance bond quote from Viking Bond Service, today

Our team of experienced and knowledgeable staff is here to help with all of your warranty bond needs. For advice on finding the right bond for your needs, to request a quote, or start an application, call us today on 1-888-278-7389.

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More About Surety Bonds:
Typical Performance Bond Cost, Rates, Premium

Performance Bond cost can vary based on several variables. Each application has unique aspects that affect the cost. Read about how the cost is figured.

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