Get The Best Surety Bonds With Better Terms To Win Government Construction Jobs

by PRC Agency PR

Reliable income, timely payments, and plenty of federal construction projects to bid on. But the surety bonding requirement can be tricky! But that’s why you’re in good hands with the team at Surety Bond Professionals.

If you're a construction contractor, this family-owned and operated company, founded in 2015, offers you access to a broad range of surety markets, providing surety bond solutions for federal construction projects nationwide.

Check them out at https://www.suretybondprofessionals.com/bonding-federal-construction

By offering the most competitive terms, Surety Bond Professionals - SBP - helps federal contractors expand their surety programs to win more bids and increase their backlogs. Construction surety bonds - or contractor bonds - provide protection for the federal government, and by extension, American taxpayers, in the event of project failures or budget overruns.

The North American surety market is anticipated to reach almost $14 billion by the end of the decade. However, the federal contract construction market is subject to specific variables. For example, the Infrastructure Investment and Jobs Act of 2021 allocates $550 billion in new federal financing to transportation, water, and energy infrastructure. Projects funded by this Act should begin by the second half of 2022, some of which are available to bid on now. Similarly, the American Rescue Plan Act carries infrastructure components that are being rolled out in 2022.

Under the leadership of company president, Mark Leskanic, SBP has created a proprietary approach to surety bonding that taps into its extensive network of underwriters to ensure that its clients receive the best possible experience. As a bond-only agency, the firm works with all parties involved in the issuance of and securitization of necessary bonds to streamline the process for its clients.

Because construction is such a risky business - six years from now, one-half of all construction companies will be out of business - a public agency, which uses the low-bid system in awarding public works contracts, cannot always be certain the lowest bidder will be reliable. SBP has access to over 25 different surety markets and can always get the largest programs and most competitive terms for their contractors to be successful.

The bonds usually required for federal construction projects are performance bonds, payment bonds, bid bonds, and supply bonds - which together ensure satisfactory compliance with contractual and budgetary requirements. SBP is keenly aware of both the burdens and rewards of federal construction contracts and takes everyone’s interests into account - the surety, the owner, and the contractor - to find the best solutions for federal government contractors.

A satisfied client commented: “Can not recommend Surety Bond Professionals out of Natick MA enough. Went to them with bonding needs and they quickly set up a bond program increasing the ability to bid on more jobs, and jobs 3 times bigger than previously. SBP helped significantly increase revenue. Look forward to working with the SBP team for many years to come.”

Now is a great time to increase your backlog with federal construction projects, even if you're a small contractor. Ask around - the short and long-term benefits of getting a federal contract under your belt far outweigh any nuisance factors.

Go to https://www.suretybondprofessionals.com/bonding-federal-construction and get started with securing the best surety bond program available.