Whether your insured is embarking on a new entrepreneurial adventure or has a well-established business, contract bonds should not stand between them and their dreams. Goldleaf Surety has the systems in place for getting the bonds needed efficiently.
What are Contract Bonds?
Contract Bonds are required when an individual or company has a contractual obligation to perform work or provide services to another entity. The bond guarantees that the individual or company will fulfill the terms of the contract. By law, federal, state and local governments are obligated to require bonds from the contractors that perform work for them.
Goldleaf’s Short-Cut Bond Program is a program for bid or performance bonds under $500,000. Goldleaf offers a number of programs for surety companies using the owners’ credit scores as the primary underwriting criterion. Our team works with a variety of sureties under this program, and each of these sureties has their own unique underwriting requirements. Therefore, even if one surety is unable or unwilling to entertain a particular risk, Goldleaf has other options for our clients.
Bid Bonds guarantee the bidder will provide the required performance bond if they are awarded the project.
Performance Bond and Payment Bonds guarantee the completion of a project as set forth in the terms of the contract.
Subdivision/Site-Improvement Bonds guarantee a developer will make the additions and/or improvements in accordance with the terms of the developer’s agreement with the governmental entity.
Bonding for Start-up Companies is something Goldleaf Surety is accustom to working with, and our team works with a number of surety companies that are willing to consider structuring some arrangements in order to help new companies. One particular advantage of working with Goldleaf is that we specialize in helping contractors build their surety programs. We will be working with them to provide the kind of counsel needed over time to lessen (and eventually eliminate) any special terms and conditions that may be required at the onset.
If you’re in need of a Contract Bond, clients who are not “very knowledgeable in contract bonds” state that Goldleaf Surety is “wonderful about helping out and explaining all the requirements needed for each particular bond.” We are looking forward to making your experience with Goldleaf exceptional. Contact us today, or get started right away with our online Bond Kit.