The new surety bond application program is open to contractors of any size working on public or commercial projects. Surety Bond Professionals requires minimal paperwork and work to maximize bond limits to help contractors win more contracts and increase their revenue.
For more information, visit https://www.suretybondprofessionals.com
The surety agency’s recently launched program helps contractors who want to build their reputation and scale their business. Securing surety bonds gives them a better chance of getting the project they want and increasing their revenue. Since there is a third party guaranteeing the quality of the completed work, project owners have peace of mind because even if the project isn’t completed according to the agreed requirements, they will not lose any capital.
Obtaining surety bonds starts with a professional bond producer or agency like Surety Bond Professionals which is responsible for arranging bonds and a line of credit with a surety company. They explain that a bond is an agreement among three parties – the project owner, the contractor, and the surety company – that the contractor will fulfill all of their contractual obligations within the time allotted. If the contractor delivers substandard work, or if they do not finish by the deadline, the project owner can file a claim with the surety company and get their expenses back. The project owner is secured, and they can proceed with another contractor if they wish.
Any federal construction contract valued at $150,000 or more requires surety bonds, and many private owners are also requiring them. This disadvantages some contractors because they have the extra step of obtaining them. However, Surety Bond Professionals’ customers report that their bond application process is streamlined, so minimal paperwork is required, and they guarantee some of the best bond limits in the state.
Surety Bond Professionals is able to require fewer documents because of their connection to more than 25 surety markets. This network also allows them to get the largest bond programs with the most competitive terms for their clients. A family-owned business, they treat their employees and clients as part of their extended “business family” and work hard to secure their clients the bond they need to win the project with no hassles.
More information is available at https://www.suretybondprofessionals.com
Surety Bond Professionals, Inc.
205 Union Street
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