Contract Bonds
Ask The Surety Pro – Joe Catania Shares How He Helped Secure a Five-Year Contract
Facing surety underwriting roadblocks on long-term contracts? Concerns like financial stability, performance challenges, cost escalation, and market uncertainty often come up. In the latest episode of “Ask The Surety Pro,” Joe Catania, CEO & Co-Founder of Anderson & Catania, shares how he helped a contractor secure a five-year contract and the revenue stream that came with it. Don’t miss this success story!
Read MoreAsk The Surety Pro – Joe Catania on How Independent Ownership Leads to the Best Bonding Solutions
Surety brokers can play a supportive role in helping surety underwriters de-risk construction takeoffs, especially when contractors seek bonds for significantly larger projects. Watch the latest episode of Ask The Surety Pro, where Rich Anderson, Co-Founder of Anderson & Catania, explains how to frame a takeoff to increase the likelihood of bond approval.
Read MoreIs My Construction Company Too Large To Consider The SBA Surety Bond Guarantee (SBG) Program?
How big is too big for the SBA SBG Program? Gross annual revenue or total employee headcount can impact your ability to utilize the Surety Bond Guarantee Program from the Small Business Administration (SBA). But when is a construction company too big to participate in the SBA SBG program? The answer just might surprise you.…
Read MoreMy Company Has A Low Net Worth. Can I Still Obtain Surety Bonds?
Can low net worth prevent contractors from getting bonded? Net worth and working capital are the two primary factors that traditional surety companies look at first when evaluating a contractor for bonding. But what if you have low, or no, net worth? The Surety Bond Guarantee Program, or SBG, might just be the solution you’re…
Read MoreWhy is My Bonding Company Asking for a Continuity Plan?
Surety bond companies need to know that projects will be completed in the event of an untimely death, extended absence, or disability of a construction company owner or key employee(s). Without a continuity plan in place, the unexpected loss of a key owner or employee(s) can create a chaotic situation for contractors and potentially their…
Read MoreWhat Risks Should Contractors Anticipate When Considering Solar Power Purchase Agreements?
Solar power purchase agreements can be lengthy and complicated. Contractors need to keep it simple, avoid undue risk, and focus on the construction component. An underwriter will review the entire solar power purchase agreement, but contractors need to keep it simple and focus on the construction component only. Don’t get caught up in the onerous…
Read MoreCan You Get Bonded If Your Company Has A Negative Net Worth?
Over our 25 years in the surety business, we’ve met some excellent, successful contractors who thought they couldn’t get a surety bond because their company had a negative net worth. Nothing could be further from the truth. In fact, the SBA doesn’t even consider your company’s net worth when they look at bonding capacity. If…
Read MoreWhy Are Personal Guarantees Required for Surety Bonds?
Joe Catania, President of Anderson & Catania Surety Services, discusses the reason why owners of construction or contractor companies must sign a personal guarantee with a surety company. What does it mean to offer a personal guarantee to a surety company? The owners of the company sign with a personal guarantee, so in addition to…
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