IOA Bonds offers performance and payment bonds for janitorial, cleaning, and other service contracts. Service contracts may include landscape maintenance, staffing services, contract food services, security services, and facilities maintenance contracts to name a few.
These bonds are written in one-year increments. The bonds are issued on the surety’s annual / renewable bond form. The bond form itself must contain language that if the bond is not renewed, the non-renewal will not give rise to a claim on the bond.
These bonds are typically easier to obtain than construction bonds are and are considered to be considerably less risky to the surety.