Supply Bond updates from Worcester County's bond agency for contractors

by PRC Agency PR

Surety Bond Professionals is your partner in growing your revenue and reputation as a trustworthy supplier! They treat every client as "work family" and set them up for success. With them, you will be on the fast track to winning your next big project!

Their supply bond programs have fast approvals and require minimal paperwork. Surety Bond Professionals has access to over 25 surety markets, giving you the most comprehensive list of matching bond programs with reasonable payment terms and requirements.

Talk to one of the surety agents at https://www.suretybondprofessionals.com

The timely delivery of the finished project relies heavily on everyone following the schedule, so asking for a supply bond from the suppliers is crucial to ensure they will not delay the project. Sometimes, the project owner will require a supply bond and will include it as a requirement in the deal with the contractor. However, contractors can require a supply bond for peace of mind, even without the project owner's request.

Surety Bond Professionals explains that supply bonds ensure that materials specified in the contract will be delivered on time, in the correct quantities, and to the right address. Should you fail to do so, the contractor can file a claim against the bond and be compensated for their losses. “The surety company that underwrote and issued the bond will investigate each claim to determine its validity. If the claim is found to be valid, the surety will pay up to the full penal amount of the bond,” an agency representative said. However, supply bonds do not cover installation or labor, as a different service provider may carry out these tasks.

The cost of the bond depends on two factors: the actual required dollar amount of the bond and your reliability and financial stability as a supplier. More established suppliers tend to have lower bond requirements, as they already have a good track record with their service. Surety Bond Professionals states that suppliers with a good creditworthiness rating and plenty of experience in the industry can expect to put up from 0.3% to 2% of the bond amount.

“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, treating their clients like people, not numbers,” a satisfied client said.

Whether you are a small business looking to land your first big project or an established company that wants to expand further, having a bond partner who can help you achieve your goals makes all the difference! Why struggle with other surety agencies who ask for tons of documents every time you apply? Surety Bond Professionals will get you the bond you need with as little paperwork as possible and in the shortest amount of time.

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 Apr 13th 2023 10:21. Viewed 124 times.

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