Critical Steps in Securing a Surety Bond
Contract Surety Bonds
For most surety programs in excess of $500,000 the following underwriting information is required:
- Current period fiscal year end financial statement prepared by a certified public accountant.
- Prior two periods’ fiscal year end financial statements prepared by a certified public accountant.
- Current period aging of receivables schedule. (30, 60, 90 days & Retention)
- Current personal financial statement for all owners of the company.
- Completion of the True & Associates Agency Questionnaire.
- Copy of a bank line of credit. (If Applicable)
- Current work in process schedule.