Performance Bonds

Performance Bonds Worldwide

Guarantee Project Completion and Build Trust 

Construction owners and developers need confidence that projects will be finished according to contract terms. Performance Bonds provide a financial guarantee that contractors will complete work properly — even if unforeseen problems arise.

Protect your projects with trusted Performance Bond solutions — proudly serving contractors across the World.

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Get Quoted. Get Certain.

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What Is a Performance Bond?

A Performance Bond is a surety bond that guarantees the contractor will complete the construction project according to the terms and conditions of the contract.

If the contractor defaults or is unable to fulfill obligations, the surety steps in to complete the work or compensate the project owner.

Key protections a Performance Bond offers:

Assures the owner that the project will be completed even if issues occur

Provides financial recovery if the contractor fails to meet obligations

Transfers project risk to a highly rated surety company

Performance Bonds are critical on larger public and private construction projects across the World. 

Learn how Construction Bonds support every phase of major projects.

When Are Performance Bonds Required?

Performance Bonds are commonly required for:

Public sector construction projects (municipal, provincial, federal)

Major private sector developments

Infrastructure projects (roads, bridges, hospitals, public housing)

Public-private partnership (P3) projects

Projects where lenders require bonding to release funding

Performance Bonds are usually issued alongside Labour and Material Payment Bonds for complete project protection.

How Much Coverage Does a Performance Bond Provide?

Most Performance Bonds cover 50% to 100% of the total construction contract value.

Some owners or municipalities may request specific bond percentages depending on project size and complexity.

Explore Labour and Material Payment Bonds for complete subcontractor protection.

Why Contractors Trust  Wechinsurance for Performance Bonds

Construction Expertise

Decades of experience supporting contractors, builders, and developers across the World.

Top Surety Access

Access to World's leading bond companies.

Fast, Reliable Service

Approvals within 24–48 hours for pre-qualified contractors.

Support for All Sizes

From emerging builders to national general contractors, we customize bonding solutions.

Build bigger. Build smarter. Protect your success with Wechinsurance

How to Qualify for a Performance Bond

Surety companies assess contractors based on the Three C’s of bonding:

Character

Past performance, references, and leadership integrity.

Capacity

Ability to execute projects based on operational experience and systems.

Capital

Financial stability and resources to support bonded obligations.

Learn how to Strengthen Your Bonding Capacity and unlock more project opportunities.

What Our Customers Are Saying

Real reviews from real clients — across commercial lines, personal insurance, and surety bonding. Discover why business owners, families, and professionals across the World trusts Wechinsurance to protect what matters most.

WechInsurance made the performance bond process simple and stress-free. Their team explained everything clearly and delivered exactly what we needed on time. We felt confident moving forward with our project.

Michael Anderson,

We needed a payment bond urgently, and WechInsurance exceeded our expectations. Fast response, clear guidance, and excellent customer service throughout the entire process.

Aisha Khalid Al-Mansouri

Their tailored insurance solutions were a perfect fit for our business. WechInsurance truly understands client needs and offers competitive options without complications.

James William Carter

WechInsurance helped us secure a money bond smoothly and efficiently. Their professionalism and attention to detail made a big difference for our company.

Carlos Miguel Hernández

Excellent experience from start to finish. The team was responsive, knowledgeable, and always willing to answer our questions. Highly recommended.

Sophie Marie Laurent

We’ve worked with several insurance providers, but WechInsurance stands out for their personalized service and reliability. A trusted partner we’ll continue to work with.

Rajiv Prakash Mehta

Ready to protect your business against unexpected risks?

Start My Bond Quote Today

Frequently Asked Questions (FAQ)

Are Performance Bonds mandatory?

For public sector projects — yes. Performance Bonds are usually mandatory, paired with Labour and Material Payment Bonds, under provincial, municipal, and federal tendering rules. For private construction, they are often strongly encouraged.

How much does a Performance Bond cost?

Premiums typically range from 0.5% to 3% of the contract value, depending on contractor strength, project size, and risk complexity.

What happens if the contractor defaults?

The surety investigates. If justified, they either fund project completion or reimburse the project owner for damages — depending on bond terms.

Can small or emerging contractors qualify for Performance Bonds?

Absolutely. With strong preparation and financial organization, even growing contractors can secure Performance Bonds with Wechinsurance's support.

Is a Performance Bond the same as insurance?

No. A bond is a three-party agreement (contractor, owner, surety), while insurance policies typically involve two-party risk transfers.  Learn more about how Construction Bonds work.

BID BONDS

Labour and Material Bonds

Other Bonds

Developer Surety