Most large commercial businesses intent on aggressive growth goals need a significant size or amount of accounts with service contracts in place. Goldleaf is experienced in helping put large commercial bonds in place that allow procurement of bids for new projects, and we embrace unique situations in which many other bond companies aren’t interested.
What are Large Commercial Surety Bonds?
Large Commercial Surety Bonds generally include bonds needed in conjunction with service contracts such as transportation companies, janitorial companies, garbage collection companies, “non-sticks and bricks” construction contracts, as well as manufacturing and supply contracts. The underwriting considerations for this class of business are different from those for the Contract Bonds, and have become more sophisticated and specialized over time. Goldleaf has the expertise to help these companies get the bonds they need to bid on and perform contracts.
Service Contracts have several important notable issues. On a multi-year contract, it is important to make sure (1) the bond can be written on a year-by-year basis using an annually renewable bond form, and (2) the bond amount is reasonable. Goldleaf’s staff can work with you to identify these issues and help deal with the public entities to get pre-approval on these items.
Supply and Installation Bonds ensure that materials will be delivered and installed as set forth in the contract terms.
Large Commercial Surety Bonds are a unique type of bond, and you need an experienced team to help you navigate the process, mitigate risks, and “do all of this in a very timely fashion.” Our clients tell us they “look forward to a continued beneficial long-term relationship in working with (our team) at Goldleaf Surety,” and we hope you will too. Contact us today with your questions about Large Commercial Surety Bonds or get started right away with our online Bond Kit.