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 Wyoming
No Wyoming statute requires a maintenance bond in general. The public works bond law, Wyo. Stat. § 16-6-112, requires a bond of 100% of the contract price on public works over $150,000; any separate maintenance or warranty bond is set by the contract or local rules.
- The $150,000 threshold and 100% amount took effect July 1, 2020 (2020 HB 52).
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.