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Bonding and Financial Assurance Services

Active
State & Local

Contract Overview

Solicitation details, issuing organization, response deadlines, documents, and interested companies for this government contract opportunity.

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The contract requires the provision of performance and payment bonds equivalent to 100% of the contract value, along with bid security amounting to 5%, for prime contractors or large subcontractors on projects exceeding $100,000. These financial assurances are mandatory to guarantee contractual obligations and protect against nonperformance or nonpayment, ensuring project continuity and financial accountability. The services must be delivered in accordance with state and federal bonding standards applicable to transportation infrastructure work. This procurement is issued by the Maryland Department of Transportation under NAICS code 524126, targeting bonding and financial assurance providers capable of meeting the high-volume demands of large-scale infrastructure contracts. Performance is expected across the statewide area, with no specific city designated, and the solicitation closed on September 3, 2026. The contract is classified as a subcontract opportunity, indicating it supports larger state-funded transportation initiatives, though no set-aside preferences or organizational type restrictions are specified.

General Info

Prime contractors must provide 100% performance and payment bonds plus 5% bid security for Maryland transportation projects over $100,000.

Agency

Maryland Department of TransportationView Agency

NAICS

524126 - Direct Property and Casualty Insurance CarriersView NAICS

Place of Performance

Area Wide, MD, US

Set-Aside

NONE

Documents

(0)

No documents available

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Timeline

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Organization & Contact Information

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AgencyMaryland Department of Transportation
ContactsNo contacts available
OfficeN/A
Organization / Agency
Maryland Department of Transportation
View Agency Profile
Office AddressN/A
ContactsNo contact information available

Full Description

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Provision of performance and payment bonds (100% of contract value) and bid security (5%) for prime or large subcontractors on contracts over $100,000.

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