The Importance of the Bid Spread

Being the lowest bidder on a job can be quite exciting. However, depending on the spread between the lowest bidder and the others, the winner may be at risk. This is why surety underwriters request the other bid amounts to evaluate the spread. If the spread is greater...

Submit your SBA Bonds early! Fiscal year closure from 9/25-10/1

Due to the Federal Fiscal year end, the SBA will be closed from 9/25/2019 through 10/1/2019. Any Bid or Performance/Payment bond submissions should be made as early as possible in order to have final approval prior to end of business on Monday 9/24/2019. Give us a...

Financial Statements: Why are they so important in bonding?

Why are financial statements so important in bonding? Financial statements are the main source of information about a contractor’s financial position and performance. It provides information necessary to make economic decisions about the contractor. Financial...

New WA State Procurement Policy

Based on a new Washington State procurement policy, effective July 1st, 2019, Contractors may benefit by not requiring employees to agree to mandatory individual arbitration requirements. Mandatory arbitration for employees is where a business requires its employees...

Who Qualifies for Surety?

Sureties look at The Three C's: Character, Capacity, and Capitol. Character: Honesty, integrity and openness. When underwriting “Character”, sureties will look at the other two C’s to determine character and often refer to prior jobs and references. Capacity: Ability...

!!! ONLINE SUBMISSIONS !!!

Due to a recent update to the publishing software, some browsers may "cut off" some sections of the screen. We are working to correct this and apologize for any trouble. We thank you for your patience and understanding. Please contact our office for any immediate...

ABC Construction Business School

Kara will be joining other industry professionals in an 8 week program, providing instructions in the skills to run a successful construction firm. Some topics included in the 27-sessions include: Surety Bonding Small Business and DBE Certifications Business Planning...

SBA-backed Surety Accounts!  Financials and Taxes are due!

SBA-backed Surety Accounts! Financials and Taxes are due!

Please remember! SBA states that December 31 year-end financial statements are due no later than May 1st. Tax Return copies are due immediately! Help us keep your file up to date, and forward your copies ASAP. Contact us with any questions!

Surety vs. Insurance: What’s the difference?

The two are commonly confused. Many think that surety is insurance, but it is ASSURANCE. Surety is a guarantee. The only reason surety is licensed under the insurance division of most states and lumped in with the sale of insurance is because it is a transfer of risk....