There are many variables that determine the premium each company will pay for a surety bond. The bond type, the strength of the financials and the surety company are three important variables that determine the cost. There is no charge for Bid Bonds and the fee for a Performance Bond & Payment Bond can average to be less than 1% of the contract price up to about 3%. There may be a surcharge for projects with extended durations and longer term warranties. Alter Surety Group is proud to represent a wider variety of sureties which enable us to access to most competitive rates available for each client. Allow us to evaluate your specific situation and give you an indication of what your premium rates will be and/or things you may need to do to improve your rates.