Menu

Capacity Building and Education

Payment and Performance Bonds

What is a Payment Bond?

A Payment Bond guarantees payment of the contractor’s obligations under the contract for any subcontractors, laborers, materials and suppliers. If a subcontractor is not paid, a “claim” may be made against the bond for non-payment and the surety company will then rectify the situation.

What is a Performance Bond?

A Performance Bond guarantees the contractor will perform according to the terms of the contract. A Performance Bond protects the owner from financial loss should the contractor fail to complete the project or perform in accordance with the contract.

Final Bond Request Form
(To be used for a bond – performance, payment, maintenance or supply) after contract award)

Completed Sample Final Bond Request Form

Responding to the Paradox
with a
Pioneering Solution

Building and Sustaining
Subcontractor Capacity
for the Future

Services

As a minority-owned and certified full-service insurance brokerage and surety bonding firm, The Cayemitte Group is proud to partner with each of its clients to assist in managing corporate risks and position firms for opportunity and growth. TCG’s multidisciplinary approach offers a wide range of strategic, advisory risk management and consulting services, including capital management support. Our unique area of specialty is the development and support of small, veteran, minority and women-owned business enterprises (MWVBEs) via financial and operational capacity-building and education programs to help access capital and open doors to opportunity.

We welcome you to explore how we can be of service to you.

Responding to the Paradox
with a
Pioneering Solution

Building and Sustaining
Subcontractor Capacity
for the Future