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Bond for Written Contract - Individual - Massachusetts

Bond for Written Contract - Individual - Massachusetts 2026

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The document is a bond for a written contract in Massachusetts, outlining the obligations of a principal and a surety company regarding the payment for labor and materials related to construction work on a specified property. It ensures that all parties entitled to lien protection under Massachusetts General Laws, chapter 254, can seek payment if the principal fails to fulfill their contractual obligations.

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Click ‘Get Form’ to open the Bond for Written Contract - Individual - Massachusetts in the editor.
Begin by filling in your name, company, address, city, state, zip code, phone number, and fax number at the top of the form. This information is essential for identification purposes.
In the main body of the bond, enter your name as the principal and provide details about your surety company. Ensure that you include the correct legal name and jurisdiction of the surety.
Describe the property involved in the contract by providing a detailed description of the land where work will be performed. This section is crucial for lien protection under Massachusetts law.
Fill in the principal sum amount that you are obligated to pay. This should reflect the total value of labor and materials covered under this bond.
Complete the certification section by entering details about the estimated contract price and signing where indicated. Ensure all signatures are properly executed.
Finally, have a notary public witness your signature to validate this document legally. Fill in their details as required.

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How much do you pay for a $30,000 bond?

Table of Contents. The cost of your $30,000 surety bond will, in most cases, be a yearly premium in the range of 0.75%-3% of your bond amount. This translates into payments between $225 and $900.

How much is a 25,000 dollar surety bond?

$25,000 surety bonds typically cost 0.510% of the bond amount, or $125$2,500. Highly qualified applicants with strong credit might pay just $125 to $250, while an individual with poor credit will receive a higher rate.

What is the typical cost of a surety bond?

The cost of a surety bond is calculated as a small percentage of the total bond coverage amount typically 0.510%. This means a $10,000 bond policy may cost between $50 and $1,000. For applicants with strong credit, most bond rates are 0.54% of the bond amount.

How much does a $35000 surety bond cost?

Surety Bond Cost Table Surety Bond AmountYearly Premium Excellent Credit (675 and above)Bad Credit (599 and below) $35,000 Surety Bond $350 - $1,050 $1,750 - $3,500 $40,000 Surety Bond $400 - $1,200 $2,000 - $4,000 $50,000 Surety Bond $500 - $1,500 $2,500 - $5,0009 more rows

How much does a surety bond cost in Massachusetts?

A surety bond in Massachusetts costs between $150 and $7,500. The bond cost is based on the required bond type and amount. For example, freight brokers and licensed mortgage brokers need a $75,000 bond. An auto dealer, on the other hand, needs a $25,000 bond.

How much does a $30,000 surety bond cost?

Surety Bond Cost Table Surety Bond AmountYearly Premium Excellent Credit (675 and above)Average Credit (600-675) $30,000 $300 - $900 $900 - $1,500 $35,000 $350 - $1,050 $1,050 - $1,750 $40,000 $400 - $1,200 $1,200 - $2,0007 more rows

What is a written contract or bond?

bond, In law, a formal written agreement by which a person undertakes to perform a certain act (e.g., appearing in court or fulfilling the obligations of a contract). Failure to perform the act obligates the person to pay a sum of money or to forfeit money on deposit.

Bond for Written Contract - Individual - Massachusetts 2026

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