The first thing that the surety underwriter considers from the bond application materials is the Contractor Questionnaire. This form provides the underwriter with a first, detailed look at the company. Understanding what the surety underwriter is looking for within the Contractor Questionnaire can be key to a successful application process. Some very basic elements from a review of the Contractor Questionnaire will be interpreted very carefully by the underwriter:
It is important to note that some surety companies specialize in bonds for companies with annual revenues under $2 million, while others do not even consider companies who do not have the capacity to handle a $10 million project. Similarly, some surety companies specialize in bonds for hazardous waste abatement contractors, while others do not event consider bonding projects that involve even a remote environmental risk. It is important that your application for surety support is submitted only to surety companies that handle the type and size of project your company wants to have bonded.
That is where an experienced surety specialist like Goldleaf Surety Services is an important partner to have in your corner. Through our relationships with others within the surety industry, Goldleaf is able to provide a network with a deep and wide range of bonding capacity for bonds of all sizes and all classes of work.
