Using This Program Could Help You Win Big Government Contracts
By Greg Angel, Construction Business Owner
The United States government’s Miller Act of 1935 is a federal regulation that requires performance and payment bonds for principal contractors on federal construction projects of $150,000 or more. This is also true of state and municipal projects, as well as some privately funded projects.
Many small and emerging contractors with revenues of $1 million to $5 million may have a bond program specifically for projects of such size, with single job limits up to about $350,000. These programs are relatively easy to obtain if company credit scores are in the acceptable range. But in order to bid on larger government construction projects, contractors must increase their bond program above credit-based bond programs.
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