How To Secure A Bond
Qualifying for a bond is a rather involved process. Learn the perspectives of the bonding company for what it takes to qualify for surety bond credit. Also, learn tips to increase your surety bond limits.
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Category: Contract Bonds
Dedicated to the latest contract bond news, we keep you up to date on new legislation and contract bond requirements. Additionally, our surety experts offer tips for getting contract bonds, running a bonded business, finding the best surety bond company, and more.
For additional information on how to get a contract bond, don’t miss our contract bond guides. We provide guides for bid bonds, construction bonds, performance bonds, and everything in between.
Avoid Bond Collateral If Possible
Bonding companies will often agree to write risks they typically would decline by requiring collateral along with the premium. This is a good solution in certain circumstances, but clients would be wise to carefully read their collateral agreements prior to signing on the 'X'.
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What Bonding Companies Look For in a Contractor
Bonding companies look at far more than just owners' personal credit when it comes to construction bonds over $250,000. A surety wants to have confidence in their bonded contractors prior to approval. There are numerous different actions a contractor can take to instill confidence in a bonding …
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“Why Do I Need a Surety Bond?”
Many people do not understand why they need to obtain surety bonds, let alone understand what they are. If you want to find out why you need a surety bond, you have discovered the right place. An obvious answer to this question is because it’s being required of you (by the obligee). Why is the …
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Personal Bond Indemnification
When obtaining a surety bond, you must sign an agreement of personal and corporate indemnity between the owner(s) of your company and the surety who is guaranteeing the bond.
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