What a supply bond is
A supply bond guarantees a supplier will deliver materials or equipment as the contract says. Public agencies and project owners use them on large supply contracts.
In Connecticut
No Connecticut statute requiring supply bonds was found. The state's public works bond law (Conn. Gen. Stat. § 49-41) covers construction contracts, not supply contracts; when a supply bond is used, the buyer sets it in the bid or contract.
You need this bond if you're
- A material supplier on a public contract
- An equipment vendor or manufacturer
- A distributor supplying a large private project
What the surety looks at
Your business, credit and the supply contract. Large contracts can need financial statements.