Surety Bonding Checklist
To help you obtain a surety bond, please find a brief guide to the items your business will need. We hope you find this information helpful for preparation.
Financial Statements. Prepare both fiscal year-end statements (from the last three years), and current personal financial statements of each principal in the company. In addition, you should include you most recent corporate interim financial statement, reflecting the most recent fiscal quarter.
About Your Company. Put together information about your company, its people and its history. This includes such information as date established, management team, number of employees, and previous bonding experiences. For the management team, provide actual resumes and profiles of principal owners and other employees you wish to highlight. Also be sure to include any relevant marketing materials such as a corporate brochure.
Project Details. Include project information and schedule for all on-going jobs. Be sure to enclose such data as contract amounts, estimated profits and cost to complete, and total billable amount to date. Also include details on completed projects, including completion dates, contract amount, and profit information.
References. Supply reference details and contact information for approximately three suppliers and three project owners /managers.
Current Documentation. Also include the following: a current certificate of insurance, a statement of continuity/succession plan, and a current bank letter outlining your depository/credit relationship.
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