Bid Bonds: This type of surety bond specifically provides protection in the bid phase. It helps ensure the contractor on the project will enter into that contract and secure performance bonds if they are given the contract. 

Performance Bonds: This is a popular type of bond. It helps ensure that the contract is completed properly. It specifically provides protection for the project owner to ensure that the job is done according to the specific terms and conditions listed. This gives the project owner the peace of mind he or she needs. 

Payment Bond: This type of project helps ensure the suppliers and all subcontractors on the project that the payment for the services provided will be made according to the details of the contract. 

Ancillary Bond: Ancillary bonds provide protect for the requirements of the contract considered integral to it, but may not be directly related to the performance. The bond ensures these tasks are performed as agreed under the contract.