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JW Surety Bonds >> Learn About Surety Bonds >> Frequently Asked Questions (Specific) >> Is there a difference in bonding companies?

Is there a difference in bonding companies?

All sureties are different; they have different rules, requirements, standards and different rates for accounts. Some sureties will not consider an account if the applicant has had a bankruptcy within the past 10 years; some bonding companies will consider an account with a bankruptcy from last month! Their premium rates can differ greatly, sometimes cash collateral is required. One of the biggest concerns any principal should have is the rating of the bonding company backing them. The list of T-listed bonding companies shrinks every year (surety companies qualified to write bonds on federal contracts). Only two years ago the government list of such companies was almost twice the size of what it is today. With surety capacity slowly evaporating, you should make sure your surety also has a quality rating (At least a B+ or higher). We make sure to deal with only the most fiscally responsible, A-Rated and T-Listed bonding companies so we can place all of our clients in secure markets.