Performance Bond - 706

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The ConsensusDocs 706 is a trusted subcontractor performance bond used by general contractors to ensure subcontractor accountability on public or private construction projects.

Included in:

Full Package, Owner Package, Design/Builder Package, Sub Contracting Package, Design Pro Package, Consultant Package

The ConsensusDocs 706 Subcontractor Performance Bond is a comprehensive, industry-standard bonding solution designed to protect project stakeholders by ensuring the faithful performance of subcontractors. This bond may be requested by a contractor — such as a general contractor, builder, design-builder, or construction manager — when entering into an agreement with a subcontractor on a construction project.

Whether your project is in the public or private sector, this performance bond plays a critical role in reducing risk and maintaining the integrity of the construction process. By securing a ConsensusDocs 706 bond, the Constructor gains a financial guarantee that the subcontractor will complete their scope of work as outlined in the contract. If the subcontractor defaults or fails to meet performance standards, the bond provides a legal mechanism for recourse, contributing to the reduction of delays, oversee costs, and avoid potential litigation.

Widely recognized and accepted across the construction industry, the ConsensusDocs 706 bond aligns with modern best practices in contract administration. It provides a balanced, fair approach to risk allocation and is frequently used in projects requiring high performance, accountability, and compliance.

Whether you’re managing complex infrastructure developments, commercial construction, or private residential builds, the ConsensusDocs 706 bond offers a reliable solution to protect your investment and keep your project on track.

Purchase Options

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Full Package

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Owner

Design / Builder

Subcontracting

Design Pro

Consultant

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Case Studies

Client Success Stories Using This Contract

Capital Park Family Health Center

The difficult economic climate has underscored the importance of carefully-crafted, industry-accepted standard form documents. In such a climate, some parties may try to overreach on terms and conditions, adopting a short-term, and hopefully, short-lived strategy that ultimately is counterproductive to their interests. ConsensusDocs forms demonstrate the contract practices that fairly balance interests, benefitting construction projects and participants. Such a resource is invaluable to the construction industry. NASBP believes that the new agreement form editions come at an opportune time to expedite and stabilize industry transactions.