Small software developers find it extremely difficult to obtain a surety bond to guarantee their contracts. Most bonding companies do not have enough knowledge or large enough of a workforce to underwrite software development.
Surety Bonds Blog
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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… Read more »
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. Many… Read more »
What Makes A Good Surety Bond Producer?
The difference between bond producers can be night and day. A good producer knows the surety industry and the construction industry (for construction bond producers). For contractors, a bond producer… Read more »
“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,… Read more »
