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This is a knowledge Bank for information regarding Surety Bonds

Surety Bonds  

This site has been created to help our clients obtain surety bonds.    We help our clients obtain both contract and commercial surety bonds that are critical to thier long term financial goals.

  • Contract (Performance) Bonds - guarantee the fulfillment of the terms of contracts for construction of private and public work, for rendering service, and for furnishing supplies.

     
  • Commercial Bonds - Our Surety Practice extends beyond Construction industry to include Court, License & Permit and Public Official Bonds.

 

    • Court Bonds - guarantee principals will successfully prosecute litigation - appeal, attachment, etc. - or reimburse adverse parties for resulting damages.
       
    • License, Permit and Miscellaneous Bonds - guarantee compliance on the part of individuals and firms with the laws, regulations, or private agreements to which principals become obligated.
       
    • Public Official Bonds/Public Employee Blanket Bonds - guarantee faithful performance of officials in positions of public trust and proper accounting of all public funds they handle. The blanket bonds provide indemnification for dishonest acts of employees of municipalities and school systems

 

 

 

 Surety Bond Documents & Applications

 
TypeUse SHIFT+ENTER to open the menu (new window).
  
NameUse SHIFT+ENTER to open the menu (new window).
  
Document Description
Bank Ref Letter.pdf
  
Here is wording for a banker to use in preparing reference letters for the business owner and business.  Surety bond underwriters conduct a thorough financial evaluation to determine the contractor’s eligibility for bond credit. 
Blanket Authorization.pdf
  
The Bond Underwriters will check credit ratings upon recieving a bond application. This form grants authorization to obtain this information.
BondRequestJobCost.pdf
  
These forms give the underwriter information about job the contractor intends to bid or has been awarded.  Information is evaluated in light of the size and experience of the contractor.
Business Financial Statement.pdf
  
A bond underwrter wants to see personal and busness financial statements.  Business statements should be prepared by a CPA as audit, review or compiliation.
Contractor Questionaire.pdf
  
Contactors complete this questionaire to provide the bond underwriter a comprehensive description of the company, its experience and capacity.
PersonalFinancialStatement_Fill In.pdf
  
The underwriting of a bond will require the applicant to provide much of the same information a bank would require for a loan.  Personal financial statement is always required for, 1)Union Wage and Welfare Bonds & 2)Performance and Payment Bonds
Union Wage Bond App.pdf
  
Unions require a bond to guarantee the payment wage and welfare benefits for union members.  The underwriter will check the credit for owner and business in addition to reviewing personal and business financials.

 

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