Are bonds typically given for 5 consecutive years?

LE Diggs asked this on April 05, 2017 in Contract Bonds

The contract requests that there is one bond good for a total of 5 years. Is this not a common request and not preferred by sureties?

Amber answered this on April 06, 2017

Hi LE,

This is dependent on the type of surety bond you purchase. In some cases, the length of the bond's term is adjustable, though you should consult a surety expert to determine if the bond you want has a flexible term. Give our experts a call at 1 (800) 308-4358 to discuss your specific situation. Hope this is helpful!