Which bond type is specifically aimed at protecting subcontractors?

A payment bond is specifically aimed at protecting subcontractors and suppliers by ensuring that they are paid for their work and materials provided on a construction project. This type of bond guarantees that the principal (typically the general contractor) will pay all their subcontractors, laborers, and material suppliers. When a payment bond is in place, subcontractors can have financial assurance that they will receive payment, reducing the risk of financial loss due to non-payment.

Payment bonds are often required by project owners to protect their interests and ensure that there are no liens placed against the property due to unpaid work. This is particularly important in the construction industry, where multiple subcontractors may be involved, and any failure to pay them can lead to significant legal and financial complications.

This contrasts with the other types of bonds mentioned, which serve different purposes. For instance, a fidelity bond protects against employee dishonesty; a completion bond ensures the project is completed according to the contract; and a maintenance bond guarantees that the workmanship will be maintained for a specified period after project completion. Therefore, the payment bond's specific focus on ensuring subcontractor payments makes it the correct answer in this context.