New York Surety Bond Agency For Federal Construction Requires Minimum Paperwork

by PRC Agency PR

Apply for surety bonds faster and bid on larger federal projects - it's easy with Surety Bond Professions!

Surety Bond Professionals offers a streamlined online application system and requires minimal paperwork for bid bonds, performance and payment bonds, and supply bonds.

Visit https://www.suretybondprofessionals.com for more information!

If you want to work on federally funded projects valued over $100,000, you will need to secure performance and payment bonds. But it's not that complicated once you team up with Surety Bond Professionals. With their online application service and a proprietary system, you can bid on larger projects.

With access to more than 25 surety markets, the agency can match contractors with bond companies with suitable programs and payment terms to make them more competitive when bidding.

Payment and performance bond assessment is based on several metrics, including your financial capacity, credit score, and prior work portfolio. Some documents that the agency may require include CPA-prepared financial statements, bank sheets, evidence of internal controls, and detailed information on the project.

Aside from the mandatory payment and performance bonds - which guarantee that you will fulfill your contractual obligations and pay your subcontractors and suppliers, respectively - the agency offers assistance with bid and supply bonds. With bid bonds, the winning bidder assures the federal government that they will accept the project if chosen. A supply bond is sometimes required to ensure that the funds paid for supplies are used for that purpose and not misappropriated.

For bid bonds, if you're a smaller contractor, you will need to submit your personal credit history, as underwriters use this as the primary basis for the assessment. Larger contracts, however, take into consideration your financial history and stability as well as the location of the project.

About the Agency

Surety Bond Professionals is a family-owned and operated business committed to providing streamlined surety bond application services. They have an extensive network of underwriters for fast application processing and approval.

“As a growing WBE/MBE contractor, Surety Bond Professionals secured our first bond when other bonding agencies couldn't. The team puts their heart and soul into providing excellent service, and they treat their clients like people, not numbers,” a satisfied client said.

Surety Bond Professionals takes time to meet with you to discuss your options, explaining each surety program and all their available payment terms to ensure that you make an informed decision for your company.

Visit https://www.suretybondprofessionals.com today to get started!

Surety Bond Professionals, Inc. 205 Union Street, Natick, MA 01760, United States Website https://www.suretybondprofessionals.com/ Phone +1-781-559-0568

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Created on Jun 1st 2023 09:20. Viewed 92 times.

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