Typically, contractors that require small and infrequent, or one-off performance bonds apply for a Fast-Track Program. This application process is quick and simple and does not require much financial or underwriting information. It is ideal for contractors that need construction bonds under $500,000. Approval is based primarily on the applicant’s credit score and a completed […]
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To Bond, License and Insure?
Starting your own construction business can sometimes be a leap of faith. But that faith in your business is stronger if you learn about the industry. For example, it is important to know the benefits of being a licensed, bonded and insured construction company. Why should I be licensed and apply for permits? The simple […]
Read MoreSurety Bonds and Insurances: Are They the Same?
There are many who confuse surety bonds with insurances, as they are both a means to protect finances. But, in their execution of this goal, they serve different purposes. Confusing the two or using them interchangeably can stop your business from growing. In the world of construction, constructions projects may require a surety bond. With […]
Read MoreSurety Bonds and Insurances, Working Together
We have recently rolled out a program to partner up with insurance agents to get their clients the best surety bonds in the industry. So why should YOU work together, as an insurance agent, with Surety Bond Professionals? Well, we’re glad you asked! We offer access to the best carriers. We have been in the […]
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History of Surety Bonds
Surety bonds are such a regular part of our business world today that it is hard to imagine a time where we didn’t have them. In a previous blog, we mentioned that the first form of a surety bond occurred in 2750 B.C. We wanted to investigate a little more about the history of surety […]
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