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bid bonds

Contract Surety Bond Approvals ~ How to Get Your Performance Bond Approved

Contract surety bond approvals should be easier. One of the most frustrating parts of being a contract surety bond underwriter is having to decline bonding capacity to a contractor that you feel possesses the prerequisite experience, expertise, character and financial… Continue Reading →

Proposed Changes in Federal Performance Bond and Payment Bond Forms

On October 19th, 2015, the Department of Defense (DoD), General Services Administration (GSA), and National Aeronautics and Space Administration (NASA) jointly proposed a Rule which will change the standard federal performance bond and payment bond forms prescribed by the Federal… Continue Reading →

Working Capital and Contract Surety Bonding

Of all of the financial components that a contract surety bond underwriter considers when reviewing a performance bond  request, working capital is the the first. Healthy working capital is indicative of a contractor’s ability to service his or her short… Continue Reading →

Performance Bonds, an SIO Primer

Contract Surety Bonding






Performance Bonds Under the Miller Act

This law has been on the books for a LOOOOOONG time and its not news to contractors, CPAs and attorneys who deal with contract surety bonding on a day to day basis.  We came across this very good piece wanted… Continue Reading →

Contract Surety – Tax Returns are NOT Financial Statements

Bottom line, tax returns are NEVER acceptable financial reports when applying for contract surety bonding. Except for very small bond requests a contract surety underwriter will require one more years of proper financial statements prepared by a certified public accountant… Continue Reading →

What Is A Bid Bond

As a surety-specific agency with a national footprint we numerous requests for “bid bonds” each day.  Contractors who have dealt with corporate sureties are aware of what these are however many new and smaller construction and commercial services contractors do… Continue Reading →

Getting a bid bond. Why is such a small bond so complicated?

Because bid bonds as small, usually 2.5% to 10% of the total project proposal, it would seem simple for a surety company to just just charge a fee and issue them.  So why don’t we write them freely?  The answer… Continue Reading →

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