What a maintenance bond is
A maintenance bond, also called a warranty bond, guarantees your finished work is free of defects in materials and workmanship for a set period, often one or two years. Sometimes it's built into the performance bond; sometimes the owner wants it separately.
In Illinois
The Illinois Public Construction Bond Act (30 ILCS 550/1) requires a bond on public works over a set value, conditioned on completing the contract and paying for labor and materials. It does not require a separate maintenance or warranty bond; when used, the contract or local rules set it.
- The 30 ILCS 550/1 dollar threshold has been amended several times; check the current text for the amount.
You need this bond if you're
- A contractor finishing public works with a warranty period
- A site contractor handing improvements over to a city or county
- Paving, concrete, roofing and landscaping contractors
- A developer whose subdivision bond is being released
What the surety looks at
Your business, credit and the finished project. Often handled together with the performance bond.