Surety Industry Perspective
Ask The Surety Pro – Why Working With a Specialized Surety Bond Only Agency Can Make All the Difference for your Contracting Business
Curious about why working with a specialized surety bond only agency can make all the difference for your contracting business?
Watch the latest episode of “Ask The Surety Pro,” where Chris Ruck, our Vice President, dives into how our exclusive focus on surety bonds—like contract, commercial, court, and fidelity bonds—enables us to build strong, supportive relationships with underwriters. Learn how this specialization benefits you directly, ensuring better terms, personalized service, and expert advice.
Read MoreAsk The Surety Pro – How a Solid Financial Team Enhances Your Credibility with Surety Bond Companies
A construction-savvy banker, accountant, and attorney can significantly help build surety bond capacity. Watch the latest episode of Ask The Surety Pro, where Joe Catania, CEO & Co-Founder of Anderson & Catania, explains how these outside professionals provide a solid financial and legal foundation that enhances your credibility and capacity with surety bond companies. #militaryconstruction #civilconstruction #federalcontracts #financialstatements #suretyunderwriting #bonding #CPA #attorney #banker
Read MoreAsk The Surety Pro – Rich Anderson On the Factors Contributing to Increased Surety Bond Activity
Contractors using surety bonds, take note: surety bond claims are on the rise in 2024, impacting both the overall industry and individual contractors. Watch the latest episode of Ask The Surety Pro, where Rich Anderson, Co-Founder of Anderson & Catania, highlights the factors contributing to increased surety bond claim activity.
Read MoreShould I Notify My Surety Company If I Plan To Sell My Company?
Is it time for you to cash out of your business through an acquisition? We’ve seen quite a few construction company acquisitions over the last several years, and we expect that trend to continue. If your contracting company is being acquired, you’ll have a lot of loose ends to tie up. And one of those…
Read MoreAre You Seeing Increasingly Larger Bid Spreads In 2023?
If you answered yes to that question, you’re not alone. So why are we seeing larger bid spreads in the current market, and will it affect your surety bonding capabilities? Our team is always listening to our contractor clients, and always looking for trends that might have an impact on their bonding capacity and ability…
Read MoreWhat special talents and qualities do you always expect to see in successful construction company owners and operators?
In the surety services business, we often marvel at contractors who gain a high level of success in the ultra-competitive construction industry. We’ve been serving our construction company clients with their surety bonding needs for over three decades. And we never cease to be amazed at the qualities that construction company owner-operators demonstrate—day after day…
Read MoreWhen Do Underbillings Become a Concern for Bonding Companies?
An underbilling can be caused by something as simple as missing a billing cycle or as significant as an omission on a project estimate, and a lot of things in between. But underbillings can become an issue that causes your bonding company to raise a red flag. So when does an underbilling become an issue…
Read MoreCan an Owner or Shareholder Distribution Impact My Bonding Capacity?
Construction company owners and shareholders often ask us about the impact of shareholder distributions on bonding capacity. And the answer may surprise you. In the past, shareholder distributions were often viewed negatively by surety companies. But things have changed in recent years. So what do you need to know about distributions in today’s world of…
Read MoreWhy Is My Surety Company Asking for a Verification of Project Financing on Commercial Projects?
With government sector public projects, you and your bonding company know the money is there to fund the work because the funds have been earmarked for the project by federal, state, or local government. But how do you know there are adequate funds to complete commercial projects? Contractors can approach the owner and ask for…
Read MoreWhat Do Insurance Companies, Banks, and Surety Companies Have in Common?
Banking, insurance, and surety companies are all critically important relationships for construction companies. There are subtle differences in the relationships to be sure, but they are also closely interrelated. For example, a company’s bank line of credit can have a significant impact on its ability to get bonded. Working capital, bank LOC, operating income, and…
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