How To Qualify For A Higher Surety Bond

October 13, 2009

If you are thinking about advertising for jobs that are for more money than you have been paid to perform, you will first need to get higher surety bonds than you currently have. You may already have a surety bond. But if your bond is only good to cover projects that have a contract value of less than 50,000 dollars, you will need to ask your insurance broker for a higher bond. The higher the bond, the more assets you will have to show. A good way to increase your business bond able value is to build cash in your company’s account or to list real estate that is bought as company assets. The more you and your company have as assets whether in cash or in real estate or both, the higher up you will be able to go in getting jobs that go for bigger contracts than you have been used to getting.

Why You Should Ask If Your Contractor Has A Surety Bond

Surety Bonds, Required for Some Types of Jobs

Changes In The Surety Bond Market

Are surety bonds used in the construction industry?

Filed Under Business Tips, Finances