Q: I would like price it would cost on a bond for subcontractor doing finish carpentry division 6, for a scope of work exceeding $50,000.00 Also if I’m a subcontractor would I need to have any additional bonding?

A: In regards to the cost of performance and payment bonds, the surety rule of thumb would be no higher than 2.5% of the bond amount or contract amount, whichever is greater. The general contractor will dictate on whether you will need to post a subcontract performance and payment bond.