Become a Partner with Colonial Surety
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Click here for Bid & Performance Bond Class Exclusions
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Preferred Contractor Bid & Performance Bond Program
with Single Limits Up to 8 Million Dollars.
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Criteria: |
Varies depending on bond line requested but all applicants must have: |
- Company must be in business for five (5) years
- Successful prior performance
- No prior personal or business bankruptcies
- Clean personal and business credit history
- No surety defaults
- Good to Strong Personal and business equity
- Prime contractor doing public work
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APPLICATION REQUIREMENTS |
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1. APPLICATION. |
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2. THE TWO MOST RECENT YEAR END CPA REVIEWED FINANCIAL STATEMENTS FOR THE COMPANY. |
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3. CURRENT PERSONAL FINANCIAL STATEMENTS FOR EACH OWNER OF THE COMPANY. |
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4. BANK REFERENCE LETTER ON BANK'S LETTERHEAD STATING NUMBER OF YEARS THE CONTRACTOR HAS BEEN BANKING WITH THIS BANK, AVERAGE BALANCE OF DEPOSITS, LINE OF CREDIT AND CURRENT AMOUNT OUTSTANDING. |
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5. AGING OF ACCOUNTS RECEIVABLE & ACCOUNTS PAYABLE AS OF CURRENT DATE.(PLEASE PROVIDE COMPUTER PRINT-OUT) |
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6. CURRENT WORK ON HAND FORM. |
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$375.00 Annual Bid Bond Service Undertaking Fee.
Premium Rates are individually assigned and commensurate with underwriting parameters
and volume activity apply.
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Download Format
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APPLICATION REQUIREMENTS
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1. General Indemnity Agreement
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2. Partnership Account™ Indemnification Agreement
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3. Service Undertaking Agreement
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