Rural Utilities Service Contractor's Bonds
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What Are Rural Utilities Service Contractor's Bonds?
Rural utilities service contractor’s bonds are performance bonds for contract work on Rural Utilities Service (RUS) infrastructure. Any contractor working on a project greater than $250,000 for the RUS is required to file surety bond RUS Form 168b.
By filing an RUS bond, the contractor agrees to fulfill all agreements regarding the project. If they fail to do so, they must fully reimburse the project owner for all expenses, including the following:
- Labor costs
- Project costs
- Material costs
How Much Do Rural Utilities Service Contractor's Bonds Cost?
Rural utilities service contractors must file a surety bond for the total project value, including the sum of all labor and materials. Your exact premium cost will be a percentage of this amount based on your credit score, work experience and other qualifying factors.
Apply now to receive a personalized quote!
How Do Rural Utilities Service Contractor's Bonds Work?
By purchasing this bond, you enter a legally-binding contract between three parties:
- Obligee: The entity requiring the bond
- Principal: You, the contractor purchasing the bond
- Surety: The entity providing the bond
The purpose of a rural utilities service contractor’s bond is to guarantee satisfactory performance of the construction contract by the principal to the RUS and project owner.
How to Get a Rural Utilities Service Contractor's Bond
To apply for your rural utilities service contractor’s bond, complete the following steps:
- Apply online
- Get a free quote within one business day
- Sign your indemnity agreement through DocuSign
- Buy online or over the phone
- Get your physical bond form in the mail within two business days
- Submit the signed form to your obligee
When you apply, you’ll need to provide the name and addresses of the obligee, name of the RUS project, and the start date of your project.
How Do I Renew My Rural Utilities Service Contractor's Bond?
Rural utilities service contractor’s bonds expire annually. When the time comes, a SuretyBonds.com representative will contact you about the renewal process. If you have any questions, refer to our Surety Bond Renewal Guide or call 1 (800) 308-4358 to speak with a team member.
How Do I Update My Rural Utilities Service Contractor's Bond Form?
To update your active SuretyBonds.com bond form, email [email protected] outlining the necessary changes and a representative will be happy to help.
Have Questions?
Call 1 (800) 308-4358 to talk with a Surety Expert today.
