Performance Bonds; One Size Does not fit all @ Surety1

Share Article

Performance and payment bonds; give us a little and save a lot; one size does not fit all at Surety Solutions Insurance Services, Inc. (http://www.surety1.com) .

Your one stop for all your surety bond needs

while many agents have access to the standard short form programs, Surety1 adds a level of expertise that most of our competitors lack. This translates into a much more flexible approach when placing performance bonds.

Surety1 is happy to announce a new surety bond program for small and emerging contractors. Over the past few years, several underwriting companies have launched various “short form” programs for small contractors or contractors with infrequent bond needs. These programs all have one thing in common, they require a short form application and if the credit meets the criteria, they approve the bond at a 3% rate. There is very little flexibility with these programs, and all applicants will pay the same rate and basically be subject to the same bonding limits.

What if, in addition to the application the contractor can provide a simple financial statement? What if the contractor has significant, verifiable personal assets? Should the contractor that has been in business for ten years be subject to the same rates and limits as the contractor that has been in business for three years? What if the bond is of a higher amount than the short form program allows? Surety1, in conjunction with the markets it represents, has designed a program that fits between the short form programs and the full underwriting submission most companies require when a bond request falls outside the short form program.

Surety1, has developed the most flexible small contractor program in the nation. Contractors that can give us a little information can qualify for bigger bonds at lower rates. Conversely, if the credit is less than stellar, often times by obtaining a little more information, Surety1 can still turn that no into a yes and get the contractor the bond it needs. With “in house” underwriting authority, and the experience to pre-qualify accounts, Surety1 can also get the contractors performance bonds approved in hours, versus days for most bond agencies. John Page, the president of Surety1 states “while many agents have access to the standard short form programs, Surety1 adds a level of expertise that most of our competitors lack. This translates into a much more flexible approach when placing performance bonds both for construction contractors as well as the bonding of bonding service contracts.” Surety1 has specialized in placing performance and payment bonds since 2003.

Surety Solutions Insurance Services, Inc. is an independent insurance agency based in Rancho Cordova, California and licensed in all 50 states. Surety1 specializes in the placement of surety bonds and other specialty insurance products. For more information on obtaining a Contractors surety bond, you can contact Surety Solutions through its website, http://www.surety1.com, by calling toll free, 877-654-2327 or by e-mail, info@surety1.com

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Contract Department
Follow us on
Visit website