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Do bonds cost money?

Yes – fee structure varies by the type of bond we are talking about.

Bid Bond : Typically a flat fee, sometimes they are free

Performance Bond : A percentage fee of the contract value, depending on the total value of contract (think 1-2% for a $1M contract).

Payment Bond :  A percentage fee of the contract value, since they are usually always required if a payment bond is required, the fee is usually presented as a single number for both.

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