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 Surety has the expertise to help large commercial companies get the bonds they need to bid on and perform contracts.
Service Contracts do have several important notable issues. Since many of these contracts are written on a multi-year basis, it is important to make sure the bond can be written on a year-by-year basis using an annually renewable bond form. In addition, it is important the bond amount is reasonable. Goldleaf Surety’s staff can work with you and your insured to identify these issues and help deal with the public entities to get pre-approval on these items.
Large Commercial Surety Bonds are a unique type of bond, and you need an experienced team of bond specialists to help you navigate the process, mitigate risks, and do all of this in a very timely fashion. For more information on bonds or for help with your clients bonds needs, contact Goldleaf Surety Services at 1-888-294-6747.