When we issue you bonds, we know we need to help you compete on any size project, with whatever the type of bond: bid bonds, performance bonds, payment bonds, license/permit, bonds or specialty bonds.
Here are some of the options we will review with you and information we will need:
- First, we’ll need these typical documents: CPA prepared financial statements, bank line letter, references, resumes of key employees. Upon review and acceptance, the Surety Company will assign a single job and aggregate bond limit for your account. This is a convenient method for bond-active contractors to secure bid and performance bonds.
- It is key that we establish a credit line with a Surety for complex performance and financial guarantee bonds, it could take as little as three business days to as much as thirty days.
- After we establish your bond credit line, new bonds can be issued within 3 to 48 hours (depending on the size and complexity of the need) right here in our office.
- We discuss what happens if there is a claim. It usually means that a job is not going according to plan or that a supplier has not been paid. If the Surety Company makes a payment to the Obligee on your behalf, they will then turn to you to indemnify them (make them whole).
- We explain how bonds are underwritten, for instance, Surety Bonds use many of the same criteria used by commercial bankers when making corporate loans.
How to Request a Proposal
For an insurance proposal at no obligation or cost please complete the form on this page and click the SUBMIT button.
You can also call us at 800.262.9998 or send us an email.
More commercial insurance coverage options:
- Business Auto
- Craft Brewers & Distillers
- Cyber Liability Insurance
- Employment Practices Liability Insurance (EPLI)
- General Liability
- Property/Inland Marine
- Umbrella/Excess Liability
- Workers’ Compensation
- Youth Sports Organizations
Click these links and learn more about the different types of coverage you need to protect your business.