HOW TO GET SURETY BONDS?

Since most companies issue surety bonds through producers, also called agents or brokers, your first step toward taking on bonded work is to discuss your plans with a professional surety bond producer. You will find that an agent who specializes in insurance and bonding for the construction industry is likely to be the most qualified to assist you. The surety bond producer will guide you through the bonding process and assist you in establishing a business relationship with a surety company.

Even though most surety companies are also large insurance companies, qualifying for bonds is more like obtaining bank credit than purchasing insurance. Like your bank, a surety company wants to know you well, before committing its assets. Most contractors find that it is necessary to spend a lot of time and effort establishing their first relationship with a surety company. Since the surety is guaranteeing your company's performance, it needs to gather and carefully analyze much information about you and your firm before it will agree to provide bonds.