Surety Bonds

Bonding: Key To Winning Public Projects

05.04.2021

Builders across the country are gearing up in anticipation of publicly funded infrastructure projects. Some, such as those hoping to pivot from the commercial sector, are unprepared for  the surety bonds critical to success. Experts advise advanced preparation, and Colonial Surety’s got the solution.

Ready for Action?

You are not alone if you are seeing some light in the tunnel these days and aiming to win more work soon. In fact, experts predict there will be plenty of scurrying across the building sector in the run up to the “anticipated surge of public projects up for bid.”  Of course, to win public bids, you need easy and speedy access to bonds.

Good news! No more doing the hokey poky to secure required bonds. Colonial Surety takes the pain out of securing, managing and monitoring the bid, performance and payment bonds that construction companies need, so you can grow your business with assurance–knowing your financial information and bid is confidential.

Once approved for The Partnership Account®, you’ll take advantage of game-changing services, designed specifically for contractors. You’ll:

 

  • Access a powerful online surety management system to issue bid bonds, order performance, and payment bonds, update work in progress, check your current and aggregate limits, view open and closed bid and performance bonds, and more.

 

  • Clearly see your bonding limits, and always have direct access to our underwriter if you need the excess capacity to bid on a job.

 

  • Use your private Owners Dashboard® for a personal window into your underwriting profile. Review the statistical analysis of your financial statements and free Dun and Bradstreet scores, profitability, and more.

 

  • Protect the confidentiality of your bids—after all, no one’s in the middle when you do it yourself, right?

 

Hurry, you could be bidding now: Pre-qualify and Receive Free Scores Here!

Gearing Up for Public Projects

Industry experts are predicting that some contractors could be caught unprepared when the competition for new public projects across the country really kicks in. This may be especially true for those hoping to shift from the commercial sector. As Construction Dive reports:     

Most government work of consequence requires that contractors be able to provide performance and payment bonds, also known as surety bonds, in the amount of the contract. In order to be bondable, the contractor must apply to a surety company, usually through a broker, and go through a fairly rigorous application process….

Some of the information that a contractor must provide before being approved for a surety bond are background on the company and the types of projects it performs and financial documents and statements reflecting its stability and success….Companies that have not been bonded before might be surprised at the level of financial and operational detail the applications require.

Here To Help: Colonial Surety Company

Don’t be left behind. With The Partnership Account® from Colonial Surety Company you’ll be ready for action with instant, digital bid, performance and payment bonds—and a whole lot more.

Let’s get you going. It only takes a few minutes to enter essential information for pre-qualification—and all companies that apply receive Dun & Bradstreet scores—for free! You can use those right away to help plot your path.

Yes Please Qualify Me For The Partnership Account® Today!

 Colonial is built on reliability, affordability and dependability. Founded in 1930, we have proven long-term financial stability; we’re licensed in every single state in the U.S.; we are listed by the U.S. Treasury as an approved surety; and we’re rated “A” Excellent by A.M. Best – an accolade of which we are extremely proud. Let’s Partner!