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 South Carolina
South Carolina law requires bonds by statute only for construction contracts (S.C. Code § 11-35-3030). For supply contracts, the purchasing agency or buyer decides whether to require a bond, and the procurement code lets the board require a performance bond in other circumstances by regulation.
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.