We could go on and on when discussing all the perks of working with Goldleaf on your bonding needs, but today we are going to highlight one of those advantages.
Here at Goldleaf we have a goal of consistently searching for the newest and most beneficial programs available for our clients. With access to over 2 dozen markets, relationships that have developed over the last 25 years, and regular meetings with our surety partners, we strive to stay on top of the changes in the surety marketplace.
One of the new programs that we are utilizing is a credit based underwriting program for developers and property owners. This program has a $750,000 single bond limit with a $750,000 aggregate limit. This program will typically accept bonds for clients who need subdivision bonds, completion bonds, public improvement bonds, performance bonds, payment bonds, and maintenance bonds. This program can be especially beneficial in situations where the bond needs are minimal and allows us the ability to provide bonds without a lot of work on the part of our clients.
One recent success story that we had with this program was with a property owner who was required by the city to make public improvements to their property. Some of the work that they were doing was street, water, sewer, storm drain, and fiber optic work which needed a performance bond to the city for approximately $400,000. They were also being asked to provide a maintenance bond for around 10% of their work. Previously, this type of work could not be submitted under a typical credit-based program due to it being public improvement work. With this new program for developers and property owners, our Vice President, Rita Jorgenson, was able to get approval for this bond in the same business day.
This is just one example of how the Goldleaf team will always strive to provide our agents and clients with access to a wide range of efficient and effective services. Give us a call today to learn more about how Goldleaf can help you with your bonding needs.
