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Our ideal contract bondholders are contractors that have annual revenue between
$2 million and $15 million. We provide lines of credit up to $5 million (single)
and $10 million (aggregate). We also provide your agent with a line of credit that
can be use to serve a contractor’s normal day-to-day needs. In keeping with our
approach, we consider larger projects on a case-by-case basis with particular attention
paid to the contractor’s experience, financial condition and management expertise.
We are relationship-based underwriters. We are focused on individual customers,
their financial condition and their future plans. Working with the agent, we prefer
to meet with the contractor to better understand how the business is managed, and
then agree on a future direction that makes sense. From our considerable experience
with contractors, we know what works and what doesn’t.
We provide timely and thorough service, and strive to add value to our clients and
agents by counseling them on business plan formation, CPA selection, organizational
controls and project profitability management. In short, we work to form strong
and lasting relationships that stand the test of time.
To apply for a contract bond, the following documents are required:
- Completed contractor questionnaire
(ours or NASBP quality)*
- CPA prepared statements – three or more years of fiscal year-end prepared statements
($3 million or more in revenue requires a Review or better statement)
- Work in Progress & Completed Contract Schedules – Three or more years of work
in progress and completed contract schedules*
- Interim Financial Statement and Work in Progress Report (if more than six months
past the last fiscal year.)
- Personal financial statement on owners/spouses of the company
- Most recent Personal Tax Returns & 1120s, if company is Subchapter S or Limited
Liability Company
- Resumes for senior management
- Organizational charts/brochures (if any)
- Copy of most recent bank line of credit
- Insurance Certificate
- Business plan
- Provide Information regarding the internal cost accounting system and software
To find out how our bond program can meet the needs of your business, contact the
independent agent nearest you by using the Agent Finder on this page.
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