Georgia Bid Bond Guide
A Georgia bid bond is a basic requirement on many public and large private projects. This concise, action‑focused guide explains what bid bonds do in Georgia, who needs them, typical amounts, how to apply, common pitfalls, and quick steps contractors can take to protect bids and win work.
Georgia bid bond
A bid bond is a three‑party guarantee (owner, bidder, surety) that the low bidder will enter the contract and obtain required performance and payment bonds. If the winning bidder refuses or can't secure post‑award bonds, the obligee can recover damages up to the bond penalty.
GA bid bond requirements
Read the solicitation carefully. Georgia public agencies and many private owners specify obligee name, bond percentage, acceptable bond form, and delivery method. Some solicitations require original notarized paper bonds or list approved sureties.
Bid bond Georgia amounts
Commonly set as a percent of the bid—often 5%–10%—but confirm whether alternates, allowances, or the maximum potential contract value are included in the calculation. Misreading the base used for the percent is a frequent error.
How to get bid bond GA
Contact a surety broker early and confirm the agency accepts your surety.
Provide 2–3 years of compiled or audited financials, current backlog, license, and insurance.
Request the obligee‑approved bond form and deliver the executed bond with your bid.
Bid bond for contractors GA
Keep a standard bid packet ready: compiled financials, bank references, insurance certificates, license copy, one‑page claims history, and a surety capacity letter. For joint ventures include the JV agreement and each partner’s financials.
Public works bid bond GA
Public projects often have stricter rules: statutory thresholds, preapproved surety lists, specific delivery windows, and original bond requirements. Confirm whether electronic copies are acceptable or if hand delivery of originals is required.
Bid bond application GA
Prepare a reusable packet to speed underwriting. A consistent packet shortens review time and lets your broker produce bid bonds quickly when solicitations drop. Disclose litigation or open claims upfront to avoid surprises.
Common bid bond mistakes
Wrong obligee name, incorrect bond percentage, unsigned surety forms, late delivery, or using an unacceptable instrument (for example, a personal check when a surety bond is required) are typical disqualifiers.
After you win with a bid bond
If awarded, immediately secure required performance and payment bonds. If you cannot obtain those bonds, notify your surety—failure to do so may trigger a bid bond claim and financial exposure.
Quick bid bond checklist
Verify obligee name, bond percent, and delivery method.
Confirm acceptable alternatives (certified check, LOC) in writing.
Attach executed bond and packet to the bid.
Retain originals and meet post‑award bond deadlines.
Practical tips Keep a trusted surety broker on call. Update your bid packet quarterly. Confirm obligee name and percentage for every solicitation. Get written confirmation for any exceptions. Transparency about prior claims and financial swings speeds approvals.
Action steps now Review solicitation bonding language, call your surety broker to confirm form and timing, and attach your executed bid bond and packet to every submission.