Contractor Prequalification (Performance Plus) — required surety bond in Federal. Apply online in minutes.
A Federal Contractor Prequalification bond, sometimes referred to as a Performance Plus bond, serves as a preliminary guarantee of a construction firm's financial and operational capabilities. It assures federal project owners that the contractor has been vetted by a surety and is likely eligible for the necessary bid, performance, and payment bonds if awarded a contract. Exact requirements vary by project, so contractors should always verify specific terms with the federal issuing agency.
Construction contractors, builders, and project managers planning to bid on federal government construction projects typically need this prequalification. It is often requested during the early stages of a request for proposal (RFP) to prove general bonding capacity before submitting a formal bid.
Federal obligees generally require this prequalification to efficiently screen potential bidders and ensure they have the financial stability and track record to handle government projects. It provides the government with confidence that the contractor is backed by a surety company before the intensive bidding and awarding phases begin.
To get started, simply click Apply Now to complete our secure online application in about 5 minutes. The team at Noah Insurance Agency will review your submission and provide a quote based on your specific needs. Once approved and purchased, your bond documents will be delivered directly to you by email.
Premiums vary widely based on the contractor's financial strength, credit history, and the anticipated scope of federal projects. Please apply online with Noah Insurance Agency or call 814-718-0060 for an exact figure.
No, a prequalification acts as a general assessment of your overall bonding capacity, while a bid bond is tied to a specific project and guarantees you will enter into the contract if selected. Requirements vary, so always verify with the federal agency to confirm which document is currently needed.
While it demonstrates that you are currently prequalified based on your financial standing, final approval for a performance bond depends on a full underwriting review at the time of the contract award. Financial stability must be maintained between prequalification and final bonding.
Approval times vary depending on the complexity of your financial profile and the specific federal requirements involved. Complete our secure online application to begin the process and determine your exact timeline.
Send us a note or call 814-718-0060 — a licensed agent will confirm the bond amount and requirements for you.
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