Home
Forms Library
Payment and performance bond sample

Performance bond sample 2026

payment and performance bond sample Preview on Page 1

See details

4 out of 5

33 votes

The document is a Payment and Performance Bond for construction projects under the Minnesota State Colleges and Universities (MnSCU). It outlines the obligations of the contractor (Principal) and surety to ensure payment for labor, materials, and compliance with contract terms. The bond guarantees that the contractor will fulfill their contractual duties and pay all claims related to the project, protecting MnSCU from any financial loss. It includes provisions for enforcement and liability, as well as signatures from involved parties.

Here's how it works

01. Edit your payment and performance bond sample online

Type text, add images, blackout confidential details, add comments, highlights and more.

02. Sign it in a few clicks

Draw your signature, type it, upload its image, or use your mobile device as a signature pad.

03. Share your form with others

Send bond sample via email, link, or fax. You can also download it, export it or print it out.

How to use or fill out performance bond sample with our platform

Ease of Setup

DocHub User Ratings on G2

Ease of Use

DocHub User Ratings on G2

Click ‘Get Form’ to open the performance bond sample in the editor.
Begin by entering the Contractor’s full legal name in the designated field at the top of Part A.
Next, input the contract amount in both Part A and Part B where indicated. Ensure this matches throughout the document.
Fill in the project details, including Project Name, Building Name (if applicable), College/University Name, and City in Minnesota.
Review the obligations outlined in both parts of the bond. Make sure you understand your responsibilities regarding payment and performance.
Sign and date the document at the bottom. Ensure that all required signatures from both Contractor and Surety are included.

Start using our platform today to easily complete your performance bond sample for free!

be ready to get more

Complete this form in 5 minutes or less

Get form

Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What information is needed for a performance bond?

This typically consists of a credit check, a full length Contractor questionnaire, copy of the contract or bid invitation, prior year and current business financials, personal financial information on owners and a bank letter.

How to write a performance bond?

Tips on how to draft a performance bond agreement Make sure to include the contractors obligations, the bond amount, the duration of the project, and any other relevant details. Negotiate the terms of the bond with the contractor. Have the bond reviewed by legal counsel to make sure all the details are in order.

How much does a $5000 performance bond cost?

$5,000 surety bonds typically cost 0.510% of the bond amount, or $25$500.

What is an example of a performance bond?

For example, a client issues a contractor a performance bond. If the contractor is not able to follow the agreed specifications in constructing the building, the client is given monetary compensation for the losses and damages the contractor may have caused.

What is a performance bond in simple terms?

A performance bond (also called performance guarantee) is a bond issued by a bank whereby the bank assumes the obligations to a buyer or other beneficiary analogous to those assumed by a confirming bank to the seller under a documentary credit.

performance bond sample

Performance bond sample pdf Performance bond sample for construction Free performance bond sample Performance bond sample doc Performance bond clause Performance bond clause in construction contract Performance bond cost Performance bond construction