Contract Surety

Construction and Technology?



The scale, scope, and complexity of infrastructure challenges in need of attention across the country has upped the imperative for advancing the use of technology. Industry experts observe that the integration of technology and building is essential for the completion of faster, more sustainable, and more cost-efficient construction.


$100 Million Over Five Years

The $1.2 trillion infrastructure bill (aka The Infrastructure Investment and Jobs Act or the IIJA) has specifically earmarked funds to propel the use of technology throughout the construction lifecycle. As Construction Dive reports:


The Infrastructure Investment and Jobs Act (IIJA) includes money for advanced digital construction management systems and related technologies. The program is funded at $20 million per year, for a total of $100 million, over five years. According to the text of the IIJA, the goals of the program are to:

  • Maximize interoperability with other systems, products, tools or applications.
  • Boost productivity.
  • Manage complexity.
  • Reduce project delays and cost overruns.
  • Enhance safety and quality.


The Coalition for Smarter Infrastructure Investments (CSII) sees the allocation of funds for integrating technology into design, engineering, building and operations as key to achieving a generational leap forward for infrastructure. Trying to push your company forward? Boost your finance and operations efforts with complementary fintech services from Colonial Surety. That’s what you’ll get with The Partnership Account®  In addition to giving qualified construction companies a surety line of credit in writing, The Partnership Account® provides construction company owners a wide range of helpful features and benefits, including:


  • Control of bidding and bonding, online and in real-time.
  • Powers of attorney to seal and issue your own bid bonds—in minutes.
  • Fast, direct, confidential bid bonds—no middleman.
  • Direct access to performance and payment bonds on a customized dashboard.
  • Real-time tracking of bids and work on hand.
  • Immediate access to Colonials lead underwriter as new opportunities emerge.
  • A private Owners Dashboard to view surety lines, adjust work on hand, analyze bids—and drive growth.


Learn More and Pre-Qualify for The Partnership Account® Here.


What Technology will IIJA Funding Cover?

Language about technology in the IIJA is quite broad. However, experts anticipate that the funding is likely to cover these five categories, as reported by Construction Dive:


  • Visual-based inspection technologies that connect job sites to engineering offices in real-time, boosting efficiency, reducing risk and accelerating project delivery.   
  • Construction management tools to administer contracts digitally.
  • Electronic ticketing technology to remove the paper from the construction material supply chain.
  • 3D modeling and digital twin technology.
  • Drones applied to construction, operations, maintenance, and disaster recovery.


Pragmatic Fintech Solution?

While gazing forward, don’t overlook the pragmatic. Civil works require surety bonds, right? Bid bonds, performance bonds and payment bonds have long served to advance and safeguard public building projects across the country. That doesn’t mean obtaining bonds has to be slow, though: Colonial Surety’s sped it up. We underwrite construction companies based on the power of their financial statements, giving qualified builders power of attorney to issue their own bid bonds, and more. Let’s think big—and act fast—together. Complete the pre-qualification for your written surety-line of credit and The Partnership Account® services today—and receive, for free, Dun & Bradstreet scores. Pre-Qualify and Get Free Scores Here.


Founded in 1930, Colonial Surety Company is a leading direct seller and writer of surety bonds and insurance products across the USA. Colonial is rated “A Excellent” by A.M. Best Company and U.S. Treasury listed.