Tag: surety bond producer

Why your Relationship with your Surety Bond Producer Matters

Your relationship with a surety bond producer is like any relationship.  It needs to be a good match for what you are looking for.  A healthy relationship with your surety bond producer can be beneficial.  It can help lower your stresses at work and help your business grow.  But, what should you be looking for in a surety bond producer?  Unfortunately, there are no “match making” surety bond websites.  So we’ve outlined some things to keep in mind when choosing who will be your perfect surety bond producer match. Qualities to Look For First, if you are under the impression that surety bonds are not mandatory, you may actually be losing out on a lot of business.  Research has shown that the public construction industry is always growing and has consistent work.  A huge difference between public and private construction work is that public construction work requires a surety bond.   This is not always the case in the private sector. Having a surety bond producer, who looks out for you and guides you is tantamount to success for any construction company.  A surety bond producer can also help you to better understand certain terms.  Think of them like...

Read more

By M L

0

Surety Bond Producer as Your Advocate

The worst outcome has happened, you have had a claim filed against your business.  What to do now?  As this can be a stressful time, having someone in your corner can help lift a huge weight off your shoulders.  This is where a surety bond producer as your advocate can be of enormous help. A basic claim procedure begins when someone associated with the job files a claim against you.  They will look over the evidence. If the claim has no backing to it, a surety bond producers acts as an advocate.    The best way to help your surety bond producer is to make sure to document everything.  This includes that you pay for labor or materials on time to when you complete certain aspects of the project.  If you have done your end of the job, then the surety bond producer will help to prove that the claim is false. There are many attributes to look for when working with a surety bond producer, and below we have highlighted some things to consider.  Therefore, if someone does file a claim  against your company, you can be certain that your surety bond producer will protect you and that you...

Read more

By M L

0

Are all Surety Bond Producers the Same?

Choosing a surety bond producer that is competent and knowledgeable could save your business a good amount of money.  In past Facebook posts, we’ve briefly mentioned the benefits of choosing a surety bond producer who is knowledgeable and competent in order to make sure that you get the correct bond with all the t’s crossed and i’s dotted so that you have the best chance at winning a bid.  But there is also another reason. What to look for in a Surety Bond Producer With surety bonds, you are the one that pays the claim if someone files against you.  The surety bond is there as a three party contract.  But what happens if your surety bond doesn’t fully protect you, and you have to pay for a false claim or pay more than is necessary?  This is where it is important to make sure that the surety bond producer you choose to do business with has years of experience and knows the field, so that you are protected as well. With some larger surety bond producer companies, you are just a numbered file in a filing cabinet. But at Surety Bond Professionals, we pride ourselves on customer service and...

Read more

By M L

0