Payment Bond - 707

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The ConsensusDocs 707 is a standard subcontractor payment bond that guarantees subcontractors will pay laborers and suppliers, providing financial protection on public or private construction projects.

Included in:

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

The ConsensusDocs 707 Subcontractor Payment Bond is a widely recognized industry-standard agreement used to protect constructors and project owners from payment-related risks. This bond can be requested by a Constructor—such as a builder, general contractor, design-builder, or construction manager—from a Subcontractor to ensure that all laborers, material suppliers, and lower-tier subcontractors are paid in a timely and responsible manner.

Designed for both public and private construction projects, the ConsensusDocs 707 bond offers critical financial security and fosters trust among project participants. It acts as a legal and financial safeguard, minimizing the risk of liens, disputes, and project delays due to non-payment.

By requiring a payment bond, constructors can ensure compliance with contract terms and promote fair payment practices across the construction supply chain. Whether you’re overseeing a large-scale infrastructure development or a private commercial build, this bond helps maintain transparency, accountability, and uninterrupted workflow on the job site.

The ConsensusDocs 707 is essential for any construction project that values integrity, timely payment, and reduced financial exposure—making it a key component in successful project delivery.

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Owner

Design / Builder

Subcontracting

Design Pro

Consultant

Short Forms

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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.