Best Value - One Premium, Both Bonds
Performance &Payment Bonds
Get both bonds for one premium. Miller Act compliant for federal contracts over $150,000. The smart choice for construction contractors.
0.5%
Starting Rate
1 Premium
Both Bonds
24-48hr
Approval
$14M+
Contract Size
Get Your P&P Bond Quote
One premium covers both bonds
📋 Get Your Performance Bond Quote
Fast approval • Competitive rates
✓Fast approval•✓A- rated carriers•✓All 50 states
Treasury Listed
SBA Approved
24-48hr Approval
Miller Act Compliant
Two Bonds, One Premium
Understand what each bond protects and why you need both
P&P Bond Pricing
One premium for both bonds - rates vary by credit and contract size
Excellent (750+)
0.5%-1.5%
$5K-$15K on $1M
Good (700-749)
1.5%-2%
$15K-$20K on $1M
Fair (650-699)
2%-2.5%
$20K-$25K on $1M
Poor (<650)
2.5%-3%+
$25K-$30K+ on $1M
Best Value in Construction Bonding
Pay one premium and get both performance AND payment bonds. No separate charges.
When P&P Bonds Are Required
Federal Miller Act and state "Little Miller Acts" mandate bonding
Federal Miller Act
Contract Threshold$150,000+
Performance Bond100% of contract
Payment Bond100% of contract
Surety RequirementTreasury-listed
State Little Miller Acts
Arizona$0 (all)
California$25,000
Texas$25,000
Washington$35,000
Colorado$150,000
Florida$200,000
Approval Timeline
Fast approval for most contract sizes
Under $250K
24-48 hours
$250K-$750K
2-5 days
$750K-$1.5M
5-7 days
Over $1.5M
7-14 days
Frequently Asked Questions
Common questions about P&P bonds
What are payment and performance bonds?
Payment and performance bonds (P&P bonds) are two surety bonds required together on most public construction projects. The performance bond guarantees project completion. The payment bond guarantees subcontractors and suppliers get paid. They're issued together for a single premium.
How much does a combined P&P bond cost?
Combined payment and performance bond cost typically ranges from 0.5% to 3% of contract value. You pay one premium for both bonds. For a $1 million contract with good credit, expect $10,000-$20,000 total.
When are P&P bonds required?
Required on federal contracts over $150,000 under the Miller Act, state/local contracts per Little Miller Acts, and many private projects at owner's discretion. Usually paired with bid bonds.
Do I pay separately for performance and payment bonds?
No. Payment and performance bonds are issued together for a single combined premium. The cost is identical whether you need one bond or both.
How long does approval take?
Bonds under $250K can be approved in 24-48 hours. Bonds $250K-$750K take 2-5 business days. Larger bonds requiring full underwriting take 5-14 business days.
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Written by BuySuretyBonds.com
Licensed surety bond agency operating nationwide with direct integrations to Treasury-certified surety carriers. Our platform enables instant approval for license and notary bonds, with 24-48 hour underwriting for commercial bonds. All content is researched from official state and federal sources (.gov) and reviewed by licensed insurance professionals.
One Premium, Both Bonds
Ready to Get Your P&P Bonds?
Get both performance and payment bonds for a single premium. Fast approval for federal and state construction projects up to $14M.
Treasury Listed
24-48hr Approval
Rates from 0.5%