CCI Surety, Inc is an underwriter for Contract, Commercial and Miscellaneous Surety Bonds.

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How bid bonds protect government agencies

Written by Jim Dillenburg on . Posted in Surety Bonds

Bid bonds are an essential link in any government project, meaning it’s a smart idea to learn how these products function and how they fit into the overall scope of working with contractors. The fact is that while bid bonds might not be the most exciting topic you’ll ever research, they might just ensure your next job gets completed correctly and in a timely way.

In this post, our team at CCI Surety will walk you through bid bonds, from what they do to where you can obtain them. We understand the fact that the process of working with contractors tends to be complicated, but let us reassure you that with our trusted experts, the process will be easy to navigate and provide peace of mind that work will proceed as planned. There’s nothing better than having the confidence that the work you set out to do will be finished in the way you anticipated at a quality that exceeds your expectations. We’ll do everything we can to set you on the right path.

How bid bonds work

These bonds are a necessary link in the chain of events that must occur before a construction project planned by a federal, state, county or municipal government can begin. Essentially, the bond is given to a government agency as a guarantee of a contractor’s good faith.

For the sake of clarity, we’ll refer to contractors as principals from here on out. Principals must give government agencies bid bonds to signal that if they are awarded a contract for a construction project, they will do two things. First, they will enter into the contract with the agency. Secondly, they will post the required performance and payment bonds.

Keep in mind that generally speaking, bid bonds only are required as a percentage of principals’ bid. The accepted range often is between 5% and 20%.

Next steps

At this point, it’s a good idea to clarify how these bonds fit into the overall scope of a construction project. As we just noted, they open the door to a principal fulfilling required performance bonds and payment bonds.

Let’s break that down. A performance bond acts as a guarantee that a principal will do everything that is spelled out in a contract with an agency. The principal will honor the relationship established in the document and meet all of the details, terms and conditions. It’s an essential part of the contracting process with the low bidder for any given project.

We also mentioned that payment bonds factor into this process. Just as performance bonds ensure work will be done in a timely way according to specifications listed in writing, payment bonds ensure key stakeholders in the construction project will be paid using the proper channels and according to the proper terms. These bonds guarantee suppliers of direct labor and materials will be compensated, and though they are separate from performance bonds, they typically are issued for no extra charge in cases where they are required.

Tying it all together

As you can see, bid bonds are a crucial step to ensuring that performance and payment bonds are issued, paving the way for work to be done on behalf of a government agency. At CCI Surety, our friendly team members are expert underwriters capable of helping you meet your goals, no matter how complicated the project.

Whether you have questions about the process or you know exactly what you need and want to get started, we’re here to help. Give us a call today at our home office in Minnesota by dialing 866-317-3294 or at our Southeast Region office in Tampa, Fla., by calling 877-320-6947. We look forward to serving you and to helping you navigate the process of obtaining bid bonds.

Happy Holidays

Written by Jim Dillenburg on . Posted in Uncategorized

Happy Holidays

This time of year we celebrate all holidays the same way, we try to relate them to bonding in some way! The truth is, it is the time of year where contractors start to plan for next year. It is important to be as involved as possible this time of year to make sure that bonding obstacles are eliminated. We do not see as many final contract bonds in December and January, but we are still working hard to get contractors qualified for bonds next year.

Contract Bond Application– For All Project Sizes (2 Pages)

Additional Checklist Items – For All Projects over $250,000

SBA Supplemental Information – Include for consideration for the SBA Surety Bond Guarantee Programs

Bond Application Review

CCI Surety, Inc. utilizes the information on the bond application and checklists to provide a quick response. If we are able to write the bond, we may require more information. Typically an underwriter is able to give a strong indication on whether or not a bond will be written. This helps save time that more arduous bond applications may entail. If you have questions, don’t hesitate to reach out to an underwriter directly.

Other Types of Bonds

Small contractors also have other bond needs that may come up. CCI Surety, Inc. also has a dedicated commercial bond department that handles a variety of surety bonds for small contractors including License & Permit bonds.

Commercial Bond Application

Larger Contractor Bond Programs

Contractors with bond needs ranging for $250,000 to $6,000,000 may also be bonded through CCI Surety. Our target range is typically surety bonds for projects $3,000,000 and under.

Contractor steps to enter the SBA Bond Guarantee Program

  • CCI Surety will determine if the contractor qualifies for the SBA Program based on the size of the contractor and the size of the project among other factors
  • CCI Surety will provide any documents required to enter the program during the underwriting process and throughout the contractor’s time in the program
  • The contractor is not required to be involved in any other SBA Programs
  • CCI Surety will provide invoicing, collection and payment for any required SBA Fees

WE MAY BE ABLE TO QUOTE COMPANIES WITH CREDIT SCORE OR OTHER FINANCIAL ISSUES.

If you have any questions or need more information about our Bond Application, don’t hesitate to contact us – Jim Dillenburg [email protected] 866-317-3294

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Our Home Office handles SBA Bond Guarantee Program situations in Maine, Vermont, New Hampshire, Massachusetts, Connecticut, New York, Pennsylvania, New Jersey, Rhode Island, Delaware, Maryland, Virginia, West Virginia, Ohio, Kentucky, Tennessee, Arkansas, Texas, Oklahoma, Kansas, Missouri, Illinois, Indiana, Michigan, Wisconsin, Minnesota, Iowa, Nebraska, South Dakota, North Dakota, Montana, Wyoming, Colorado, New Mexico, Arizona, Utah, Idaho, Nevada, Oregon, Washington, California, Hawaii, Alaska, and Washington D.C. aff-logo2

Payment & Performance ★ Bid ★ ERISA ★ Motor Vehicle Dealer Bonds ★ BMC-84 ★ Wage & Welfare ★ License and Permit ★ Commercial ★ Contract ★ Miscellaneous

Please Note: We can always get started working on any bond application that you have already prepared for other markets. CCI Surety, Inc. specializes in hard to place contract bonds that may have previously been declined by other sureties. We use different kinds of tools which allow us the freedom to think outside the box with our underwriting strategy. We are able to get comfortable with difficult situations using escrow / funds control, SBA Surety Bond Guarantee program and working capital deposits as different options to get the bond approved. CCI also has a very successful Easy Start Program for contracts between $250,000 and $1,000,000 that may be obtained with a two page application plus any financial documents that are available. On commercial bond business we handle both standard and non standard business. Contract Bonds – Multiple Markets – Can Provide A+ rated bonds – $3M in-house authority, up to $15M from home office – Quick Turn around – No Agency Requirements SBA Backed Bonds – 2012 National SBA Bond Producer of the Year – Potential to approve bonds even with negative working capital – SBA Bond Program now covers bonds up to $6.5M and in some cases $10M Commercial Bonds – Standard and Non-Standard Bonds – Experienced staff specialized in handling Commercial Bond needs – License and Permit, Fidelity, ERISA, Business Services and Court Bonds – Miscellaneous Bonds

Bond Application

Written by Jim Dillenburg on . Posted in Surety Bonds, Uncategorized

Bond Application

The applications below can be used in situations where contractors have been declined for bonds by standard markets, or if standard markets do not approve contractors for large enough bonds. CCI Surety bond applications cover situations where a contractor may have a low credit score, working capital issues, or other financials issues. In many cases where projects are under $1,000,000, CCI Surety can find bonding solutions with in-house financials without requiring CPA prepared financials.

Contract Bond Application– For All Project Sizes (2 Pages)

Additional Checklist Items – For All Projects over $250,000

SBA Supplemental Information – Include for consideration for the SBA Surety Bond Guarantee Programs

Bond Application Review

CCI Surety, Inc. utilizes the information on the bond application and checklists to provide a quick response. If we are able to write the bond, we may require more information. Typically an underwriter is able to give a strong indication on whether or not a bond will be written. This helps save time that more arduous bond applications may entail. If you have questions, don’t hesitate to reach out to an underwriter directly.

Other Types of Bonds

Small contractors also have other bond needs that may come up. CCI Surety, Inc. also has a dedicated commercial bond department that handles a variety of surety bonds for small contractors including License & Permit bonds.

Commercial Bond Application

Larger Contractor Bond Programs

Contractors with bond needs ranging for $250,000 to $6,000,000 may also be bonded through CCI Surety. Our target range is typically surety bonds for projects $3,000,000 and under.

Contractor steps to enter the SBA Bond Guarantee Program

  • CCI Surety will determine if the contractor qualifies for the SBA Program based on the size of the contractor and the size of the project among other factors
  • CCI Surety will provide any documents required to enter the program during the underwriting process and throughout the contractor’s time in the program
  • The contractor is not required to be involved in any other SBA Programs
  • CCI Surety will provide invoicing, collection and payment for any required SBA Fees

WE MAY BE ABLE TO QUOTE COMPANIES WITH CREDIT SCORE OR OTHER FINANCIAL ISSUES.

If you have any questions or need more information about our Bond Application, don’t hesitate to contact us – Jim Dillenburg [email protected] 866-317-3294

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Our Home Office handles SBA Bond Guarantee Program situations in Maine, Vermont, New Hampshire, Massachusetts, Connecticut, New York, Pennsylvania, New Jersey, Rhode Island, Delaware, Maryland, Virginia, West Virginia, Ohio, Kentucky, Tennessee, Arkansas, Texas, Oklahoma, Kansas, Missouri, Illinois, Indiana, Michigan, Wisconsin, Minnesota, Iowa, Nebraska, South Dakota, North Dakota, Montana, Wyoming, Colorado, New Mexico, Arizona, Utah, Idaho, Nevada, Oregon, Washington, California, Hawaii, Alaska, and Washington D.C. aff-logo2

Payment & Performance ★ Bid ★ ERISA ★ Motor Vehicle Dealer Bonds ★ BMC-84 ★ Wage & Welfare ★ License and Permit ★ Commercial ★ Contract ★ Miscellaneous

Please Note: We can always get started working on any bond application that you have already prepared for other markets. CCI Surety, Inc. specializes in hard to place contract bonds that may have previously been declined by other sureties. We use different kinds of tools which allow us the freedom to think outside the box with our underwriting strategy. We are able to get comfortable with difficult situations using escrow / funds control, SBA Surety Bond Guarantee program and working capital deposits as different options to get the bond approved. CCI also has a very successful Easy Start Program for contracts between $250,000 and $1,000,000 that may be obtained with a two page application plus any financial documents that are available. On commercial bond business we handle both standard and non standard business. Contract Bonds – Multiple Markets – Can Provide A+ rated bonds – $3M in-house authority, up to $15M from home office – Quick Turn around – No Agency Requirements SBA Backed Bonds – 2012 National SBA Bond Producer of the Year – Potential to approve bonds even with negative working capital – SBA Bond Program now covers bonds up to $6.5M and in some cases $10M Commercial Bonds – Standard and Non-Standard Bonds – Experienced staff specialized in handling Commercial Bond needs – License and Permit, Fidelity, ERISA, Business Services and Court Bonds – Miscellaneous Bonds

Small Contractor Surety Bond Program

Written by Jim Dillenburg on . Posted in Surety Bonds, Uncategorized

Small Contractor Surety Bond Program – $400,000 and Under

Small Contract Applications– For Projects $400,000 and under

SBA Supplemental Information – Include for consideration for the SBA Surety Bond Guarantee Programs

No Credit Score Minimum

CCI Surety, Inc. utilizes multiple tools to handle contractors that have low credit scores but still require bonding. We still review credit history to determine the extent of ongoing problems and to make sure the credit issues are being addressed. We have underwriters dedicating to working with contractors on projects this size and try to give any options available for Bid, Payment & Performance bonds.

Other Types of Bonds

Small contractors also have other bond needs that may come up. CCI Surety, Inc. also has a dedicated commercial bond department that handles a variety of surety bonds for small contractors including License & Permit bonds

Larger Contractor Bond Programs

Contractors with bond needs ranging for $400,000 to $6,000,000 may also be bonded through CCI Surety. Our target range is typically surety bonds for projects $3,000,000 and under. We can handle many larger bond situations without CPA financials.

Contractor steps to enter the SBA Bond Guarantee Program

  • CCI Surety will determine if the contractor qualifies for the SBA Program based on the size of the contractor and the size of the project among other factors
  • CCI Surety will provide any documents required to enter the program during the underwriting process and throughout the contractor’s time in the program
  • The contractor is not required to be involved in any other SBA Programs
  • CCI Surety will provide invoicing, collection and payment for any required SBA Fees

Small Contract Applications– For Projects $400,000 and under

Contract Bond Application – For Bonds larger than $400,000

SBA Supplemental Information – Include for consideration for the SBA Surety Bond Guarantee Programs

 

WE MAY BE ABLE TO QUOTE COMPANIES WITH CREDIT SCORE OR OTHER FINANCIAL ISSUES.

If you have any questions or need more information about our Small Contractor Surety Bond Program don’t hesitate to contact us. – Jim Dillenburg [email protected] 866-317-3294

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Our Home Office handles SBA Bond Guarantee Program situations in Maine, Vermont, New Hampshire, Massachusetts, Connecticut, New York, Pennsylvania, New Jersey, Rhode Island, Delaware, Maryland, Virginia, West Virginia, Ohio, Kentucky, Tennessee, Arkansas, Texas, Oklahoma, Kansas, Missouri, Illinois, Indiana, Michigan, Wisconsin, Minnesota, Iowa, Nebraska, South Dakota, North Dakota, Montana, Wyoming, Colorado, New Mexico, Arizona, Utah, Idaho, Nevada, Oregon, Washington, California, Hawaii, Alaska, and Washington D.C. aff-logo2

Payment & Performance ★ Bid ★ ERISA ★ Motor Vehicle Dealer Bonds ★ BMC-84 ★ Wage & Welfare ★ License and Permit ★ Commercial ★ Contract ★ Miscellaneous

Please Note: We can always get started working on submissions or applications that you have already prepared for other markets. CCI Surety, Inc. specializes in hard to place contract bonds that may have previously been declined by other sureties. We use different kinds of tools which allow us the freedom to think outside the box with our underwriting strategy. We are able to get comfortable with difficult situations using escrow / funds control, SBA Surety Bond Guarantee program and working capital deposits as different options to get the bond approved. CCI also has a very successful Easy Start Program for contracts between $400,000 and $1,000,000 that may be obtained with a two page application plus any financial documents that are available. On commercial bond business we handle both standard and non standard business. Contract Bonds – Multiple Markets – Can Provide A+ rated bonds – $3M in-house authority, up to $15M from home office – Quick Turn around – No Agency Requirements SBA Backed Bonds – 2012 National SBA Bond Producer of the Year – Potential to approve bonds even with negative working capital – SBA Bond Program now covers bonds up to $6.5M and in some cases $10M Commercial Bonds – Standard and Non-Standard Bonds – Experienced staff specialized in handling Commercial Bond needs – License and Permit, Fidelity, ERISA, Business Services and Court Bonds – Miscellaneous Bonds

SBA Bond Market

Written by Jim Dillenburg on . Posted in Uncategorized

SBA Bond Market

 

General Information about the SBA Bond Markets

Sureties can choose whether or not to be an SBA Bond Market. Even if a surety is a SBA Bond Market they may still underwrite bonds differently. CCI Surety, Inc. has always focused on writing bonds for contractors with low credit scores, or other financial issues that prevent them from fitting into standard bond markets. Being an SBA Bond Market allows CCI Surety to consider all accounts for the SBA Bond Guarantee Program as well as other programs.

Contractor steps to enter the SBA Bond Guarantee Program

  • CCI Surety will determine if the contractor qualifies for the SBA Program based on the size of the contractor and the size of the project among other factors
  • CCI Surety will provide any documents required to enter the program during the underwriting process and throughout the contractor’s time in the program
  • The contractor is not required to be involved in any other SBA Programs
  • CCI Surety will provide invoicing, collection and payment for any required SBA Fees

Small Contract Applications– For Projects $250,000 and under

Contract Bond Application – For Bonds larger than $250,000

SBA Supplemental Information – Include for consideration for the SBA Surety Bond Guarantee Programs

 

WE MAY BE ABLE TO QUOTE COMPANIES WITH CREDIT SCORE OR OTHER FINANCIAL ISSUES.

If you have any questions or need more information about SBA Bond Markets don’t hesitate to contact us. Jim Dillenburg [email protected] 866-317-3294

map-8.28.2014

Our Home Office handles SBA Bond Guarantee Program situations in Maine, Vermont, New Hampshire, Massachusetts, Connecticut, New York, Pennsylvania, New Jersey, Rhode Island, Delaware, Maryland, Virginia, West Virginia, Ohio, Kentucky, Tennessee, Arkansas, Texas, Oklahoma, Kansas, Missouri, Illinois, Indiana, Michigan, Wisconsin, Minnesota, Iowa, Nebraska, South Dakota, North Dakota, Montana, Wyoming, Colorado, New Mexico, Arizona, Utah, Idaho, Nevada, Oregon, Washington, California, Hawaii, Alaska, and Washington D.C. aff-logo2

Payment & Performance ★ Bid ★ ERISA ★ Motor Vehicle Dealer Bonds ★ BMC-84 ★ Wage & Welfare ★ License and Permit ★ Commercial ★ Contract ★ Miscellaneous

Please Note: We can always get started working on submissions or applications that you have already prepared for other markets. CCI Surety, Inc. specializes in hard to place contract bonds that may have previously been declined by other sureties. We use different kinds of tools which allow us the freedom to think outside the box with our underwriting strategy. We are able to get comfortable with difficult situations using escrow / funds control, SBA Surety Bond Guarantee program and working capital deposits as different options to get the bond approved. CCI also has a very successful Easy Start Program for contracts between $250,000 and $1,000,000 that may be obtained with a two page application plus any financial documents that are available. On commercial bond business we handle both standard and non standard business. Contract Bonds – Multiple Markets – Can Provide A+ rated bonds – $3M in-house authority, up to $15M from home office – Quick Turn around – No Agency Requirements SBA Backed Bonds – 2012 National SBA Bond Producer of the Year – Potential to approve bonds even with negative working capital – SBA Bond Program now covers bonds up to $6.5M and in some cases $10M Commercial Bonds – Standard and Non-Standard Bonds – Experienced staff specialized in handling Commercial Bond needs – License and Permit, Fidelity, ERISA, Business Services and Court Bonds – Miscellaneous Bonds

Bid Bond

Written by Jim Dillenburg on . Posted in Uncategorized

Bid Bond Season

 

Non-standard Bid Bonds

Spring is the season of Bid Bonds in many parts of the country. Contractors often wait until the last second to acquire Bid Bonds which can leave insurance agents scrambling to place them. If you start working with a new client that needs bid bonds, remember that the surety typically requires the same level up underwriting for Bid Bonds as they do for Payment & Performance Bonds. Making sure you have all pertinent information during the Bid Bond process helps ensure that there will not be issues with the Payment & Performance Bonds. Credit score problems or other issues may pop up at any point in the bonding process. Reach out to CCI Surety for Bid Bonds, Payment & Performance Bonds, and other bond needs early.

We can usually get started from applications you have already filled out or you can choose from ours below. Contact us for commercial, court, or other bond applications.

SBA QUICK APPLICATION ($250K and Under)
For contractors with low credit score and little financial information availableEasy Start Application (Up to $1,000,000)
Submit with best available financials (in-house may be sufficient)Full Submission (Over $1,000,000)
CPA Financials generally required

 

Bid Bonds

Applying for a Bid or Payment and Performance Bond can be cumbersome. Many programs rely on credit score but CCI Surety can also handle bond needs for contractors with a low credit scores. There are many options for contractors with credit score or financial issues that need Bid or Payment and Performance bonds. CCI Surety reviews accounts for many options and can make multiple offers for contractors.

Jim Dillenburg
[email protected]
866-317-3294

map-8.28.2014

CCI Surety Handles Bid Bonds nationwide.

Our Home Office handles Bid Bond situations in Maine, Vermont, New Hampshire, Massachusetts, Connecticut, New York, Pennsylvania, New Jersey, Rhode Island, Delaware, Maryland, Virginia, West Virginia, Ohio, Kentucky, Tennessee, Arkansas, Texas, Oklahoma, Kansas, Missouri, Illinois, Indiana, Michigan, Wisconsin, Minnesota, Iowa, Nebraska, South Dakota, North Dakota, Montana, Wyoming, Colorado, New Mexico, Arizona, Utah, Idaho, Nevada, Oregon, Washington, California, Hawaii, Alaska, Florida, Georgia, Alabama, Mississippi, Louisiana, Tennessee, North Carolina, South Carolina and Washington D.C. aff-logo2

Payment & Performance ★ Bid ★ ERISA ★ Motor Vehicle Dealer Bonds ★ BMC-84 ★ Wage & Welfare ★ License and Permit ★ Commercial ★ Contract ★ Miscellaneous

Please Note: We can always get started working on submissions or applications that you have already prepared for other markets. CCI Surety, Inc. specializes in hard to place contract bonds that may have previously been declined by other sureties. We use different kinds of tools which allow us the freedom to think outside the box with our underwriting strategy. We are able to get comfortable with difficult situations using escrow / funds control, SBA Surety Bond Guarantee program and working capital deposits as different options to get the bond approved. CCI also has a very successful Easy Start Program for contracts between $250,000 and $1,000,000 that may be obtained with a two page application plus any financial documents that are available. On commercial bond business we handle both standard and non standard business. Bid Bonds – Multiple Markets – Can Provide A+ rated bonds – $3M in-house authority, up to $15M from home office – Quick Turn around – No Agency Requirements SBA Backed Bid Bonds – 2012 National SBA Bond Producer of the Year – Potential to approve bonds even with negative working capital – SBA Bond Program now covers bonds up to $6.5M and in some cases $10M Commercial Bonds – Standard and Non-Standard Bonds – Experienced staff specialized in handling Commercial Bond needs – License and Permit, Fidelity, ERISA, Business Services and Court Bonds – Miscellaneous Bonds

Bond Requirement Waived

Written by Jim Dillenburg on . Posted in Uncategorized

Bond Requirement Waived

 

Contractor Growth

Many contractors limit their growth by trying to get contract bond requirements waived or by avoiding bonded projects all together. As agents, you can help your contractor, especially smaller contractors looking to grow, by getting them in consistent and stable bond relationships. A contractor with clear and consistent bonding relationships is less likely to make other compromises to get a bond requirement waived.

Calling in a favors, or getting an exception from a standard market can be only a one-time solution for contractors and may not help them on the next project. Credit based quick programs may also provide temporary avenues for bonding, however, those programs have size restrictions. If they do not access to larger bond programs the contractor will once again have to try to get a bond requirement waived. CCI Surety is always handling non-standard accounts and can set up a program to consistently meet your contractor’s bond needs as well as help them grow into larger projects.

We can usually get started from applications you have already filled out or you can choose from ours below. Contact us for commercial, court, or other bond applications.

Small Contract Applications– For Projects $250,000 and under

Contract Bond Application – For Bonds larger than $250,000

SBA Supplemental Information – Include for consideration for the SBA Surety Bond Guarantee Programs

 

Bid Bonds

Applying for a Bid or Payment and Performance Bond can be cumbersome. Many programs rely on credit score but CCI Surety can also handle bond needs for contractors with a low credit scores. There are many options for contractors with credit score or financial issues that need Bid or Payment and Performance bonds. CCI Surety reviews accounts for many options and can make multiple offers for contractors.

Jim Dillenburg
[email protected]
866-317-3294

map-8.28.2014

Our Home Office handles Motor Vehicle Dealer Bond situations in Maine, Vermont, New Hampshire, Massachusetts, Connecticut, New York, Pennsylvania, New Jersey, Rhode Island, Delaware, Maryland, Virginia, West Virginia, Ohio, Kentucky, Tennessee, Arkansas, Texas, Oklahoma, Kansas, Missouri, Illinois, Indiana, Michigan, Wisconsin, Minnesota, Iowa, Nebraska, South Dakota, North Dakota, Montana, Wyoming, Colorado, New Mexico, Arizona, Utah, Idaho, Nevada, Oregon, Washington, California, Hawaii, Alaska, Florida, Georgia, Alabama, Mississippi, Louisiana, Tennessee, North Carolina, South Carolina and Washington D.C. aff-logo2

Payment & Performance ★ Bid ★ ERISA ★ Motor Vehicle Dealer Bonds ★ BMC-84 ★ Wage & Welfare ★ License and Permit ★ Commercial ★ Contract ★ Miscellaneous

Please Note: We can always get started working on submissions or applications that you have already prepared for other markets. CCI Surety, Inc. specializes in hard to place contract bonds that may have previously been declined by other sureties. We use different kinds of tools which allow us the freedom to think outside the box with our underwriting strategy. We are able to get comfortable with difficult situations using escrow / funds control, SBA Surety Bond Guarantee program and working capital deposits as different options to get the bond approved. CCI also has a very successful Easy Start Program for contracts between $250,000 and $1,000,000 that may be obtained with a two page application plus any financial documents that are available. On commercial bond business we handle both standard and non standard business. Contract Bonds – Multiple Markets – Can Provide A+ rated bonds – $3M in-house authority, up to $15M from home office – Quick Turn around – No Agency Requirements SBA Backed Bonds – 2012 National SBA Bond Producer of the Year – Potential to approve bonds even with negative working capital – SBA Bond Program now covers bonds up to $6.5M and in some cases $10M Commercial Bonds – Standard and Non-Standard Bonds – Experienced staff specialized in handling Commercial Bond needs – License and Permit, Fidelity, ERISA, Business Services and Court Bonds – Miscellaneous Bonds

Payment and Performance Bonds

Written by Jim Dillenburg on . Posted in Surety Bonds, Uncategorized

Payment and Performance Bonds

 

Bid Bonds

Bid bonds are normally a precursor to needing a Payment and Performance Bonds. Anytime that a bid bond it issued, it is a signal that the surety intends to provide a Payment and Performance bond for the contractor. The underwriter working on your Bid Bond usually reviews the account and requires the same information that they would need for a Payment and Performance Bonds.

 

Application for a Bid Bond

Applying for a Bid or Payment and Performance Bond can be cumbersome. Many programs rely on credit score but CCI Surety can also handle bond needs for contractors with a low credit scores. There are many options for contractors with credit score or financial issues that need Bid or Payment and Performance bonds. CCI Surety reviews accounts for many options and can make multiple offers for contractors.

Jim Dillenburg
[email protected]
866-317-3294

map-8.28.2014

Our Home Office handles Motor Vehicle Dealer Bond situations in Maine, Vermont, New Hampshire, Massachusetts, Connecticut, New York, Pennsylvania, New Jersey, Rhode Island, Delaware, Maryland, Virginia, West Virginia, Ohio, Kentucky, Tennessee, Arkansas, Texas, Oklahoma, Kansas, Missouri, Illinois, Indiana, Michigan, Wisconsin, Minnesota, Iowa, Nebraska, South Dakota, North Dakota, Montana, Wyoming, Colorado, New Mexico, Arizona, Utah, Idaho, Nevada, Oregon, Washington, California, Hawaii, Alaska, Florida, Georgia, Alabama, Mississippi, Louisiana, Tennessee, North Carolina, South Carolina and Washington D.C. aff-logo2

Payment & Performance ★ Bid ★ ERISA ★ Motor Vehicle Dealer Bonds ★ BMC-84 ★ Wage & Welfare ★ License and Permit ★ Commercial ★ Contract ★ Miscellaneous

Please Note: We can always get started working on submissions or applications that you have already prepared for other markets. CCI Surety, Inc. specializes in hard to place contract bonds that may have previously been declined by other sureties. We use different kinds of tools which allow us the freedom to think outside the box with our underwriting strategy. We are able to get comfortable with difficult situations using escrow / funds control, SBA Surety Bond Guarantee program and working capital deposits as different options to get the bond approved. CCI also has a very successful Easy Start Program for contracts between $250,000 and $1,000,000 that may be obtained with a two page application plus any financial documents that are available. On commercial bond business we handle both standard and non standard business. Contract Bonds – Multiple Markets – Can Provide A+ rated bonds – $3M in-house authority, up to $15M from home office – Quick Turn around – No Agency Requirements SBA Backed Bonds – 2012 National SBA Bond Producer of the Year – Potential to approve bonds even with negative working capital – SBA Bond Program now covers bonds up to $6.5M and in some cases $10M Commercial Bonds – Standard and Non-Standard Bonds – Experienced staff specialized in handling Commercial Bond needs – License and Permit, Fidelity, ERISA, Business Services and Court Bonds – Miscellaneous Bonds

Florida Motor Vehicle Dealer Bond

Written by Jim Dillenburg on . Posted in Uncategorized

Florida Motor Vehicle Dealer Bond Renewals

 

General Information about the Florida Motor Vehicle Dealer Bonds

The deadline to renew Florida Motor Vehicle Dealer Bonds is approaching. Renewal notices may be sent as early as this week which means clients will soon be looking to renew their bonds by the April 30th Deadline.  CCI Surety, Inc does handle commercial bonds as well as court, miscellaneous, and many other types of bond needs. Contact us for competitive rates, especially if your client has renewal issues or if credit score has caused them difficulty in the past

Ask for our commercial bond department at 866-317-3294, or just reply to this email.

Contact CCI Surety for Motor Vehicle Dealer Bonds

  • CCI Surety can potentially quote clients with low credit score
  • CCI Surety deals with multiple markets nationwide
  • CCI Surety can provide quotes on standard accounts as well as non-standard accounts

WE MAY BE ABLE TO QUOTE COMPANIES WITH CREDIT SCORE OR OTHER FINANCIAL ISSUES.

If you have any questions or need more information don’t hesitate to contact us.

Jim Dillenburg
[email protected]
866-317-3294

map-8.28.2014

Our Home Office handles Motor Vehicle Dealer Bond situations in Maine, Vermont, New Hampshire, Massachusetts, Connecticut, New York, Pennsylvania, New Jersey, Rhode Island, Delaware, Maryland, Virginia, West Virginia, Ohio, Kentucky, Tennessee, Arkansas, Texas, Oklahoma, Kansas, Missouri, Illinois, Indiana, Michigan, Wisconsin, Minnesota, Iowa, Nebraska, South Dakota, North Dakota, Montana, Wyoming, Colorado, New Mexico, Arizona, Utah, Idaho, Nevada, Oregon, Washington, California, Hawaii, Alaska, Florida, Georgia, Alabama, Mississippi, Louisiana, Tennessee, North Carolina, South Carolina and Washington D.C. aff-logo2

Payment & Performance ★ Bid ★ ERISA ★ Motor Vehicle Dealer Bonds ★ BMC-84 ★ Wage & Welfare ★ License and Permit ★ Commercial ★ Contract ★ Miscellaneous

Please Note: We can always get started working on submissions or applications that you have already prepared for other markets. CCI Surety, Inc. specializes in hard to place contract bonds that may have previously been declined by other sureties. We use different kinds of tools which allow us the freedom to think outside the box with our underwriting strategy. We are able to get comfortable with difficult situations using escrow / funds control, SBA Surety Bond Guarantee program and working capital deposits as different options to get the bond approved. CCI also has a very successful Easy Start Program for contracts between $250,000 and $1,000,000 that may be obtained with a two page application plus any financial documents that are available. On commercial bond business we handle both standard and non standard business. Contract Bonds – Multiple Markets – Can Provide A+ rated bonds – $3M in-house authority, up to $15M from home office – Quick Turn around – No Agency Requirements SBA Backed Bonds – 2012 National SBA Bond Producer of the Year – Potential to approve bonds even with negative working capital – SBA Bond Program now covers bonds up to $6.5M and in some cases $10M Commercial Bonds – Standard and Non-Standard Bonds – Experienced staff specialized in handling Commercial Bond needs – License and Permit, Fidelity, ERISA, Business Services and Court Bonds – Miscellaneous Bonds

SBA Bond Guarantee Program

Written by Jim Dillenburg on . Posted in Uncategorized

SBA Bond Guarantee Program

 

General Information about the SBA Bond Guarantee Program

The SBA Bond Guarantee Program was developed by the Federal Government to help small to medium and emerging contractors gain more access to surety bonds. Surety bonds are required on many projects at many government levels as well as some private construction projects. In order to obtain a bond a surety must underwrite the performance capabilities and financial strength of a contractor. The SBA Bond Guarantee Program is designed to limit the risk to a surety on contractors that fit in the program. This generally allows a surety bond underwriter to approve more bonds for smaller contractors that might not have otherwise qualified on their own for bonding.

Contractor steps to enter the SBA Bond Guarantee Program

  • CCI Surety will determine if the contractor qualifies for the SBA Program based on the size of the contractor and the size of the project among other factors
  • CCI Surety will provide any documents required to enter the program during the underwriting process and throughout the contractor’s time in the program
  • The contractor is not required to be involved in any other SBA Programs
  • CCI Surety will provide invoicing, collection and payment for any required SBA Fees

WE MAY BE ABLE TO QUOTE COMPANIES WITH CREDIT SCORE OR OTHER FINANCIAL ISSUES.

If you have any questions or need more information don’t hesitate to contact us. Jim Dillenburg [email protected] 866-317-3294

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Our Home Office handles SBA Bond Guarantee Program situations in Maine, Vermont, New Hampshire, Massachusetts, Connecticut, New York, Pennsylvania, New Jersey, Rhode Island, Delaware, Maryland, Virginia, West Virginia, Ohio, Kentucky, Tennessee, Arkansas, Texas, Oklahoma, Kansas, Missouri, Illinois, Indiana, Michigan, Wisconsin, Minnesota, Iowa, Nebraska, South Dakota, North Dakota, Montana, Wyoming, Colorado, New Mexico, Arizona, Utah, Idaho, Nevada, Oregon, Washington, California, Hawaii, Alaska, and Washington D.C. aff-logo2

Payment & Performance ★ Bid ★ ERISA ★ Motor Vehicle Dealer Bonds ★ BMC-84 ★ Wage & Welfare ★ License and Permit ★ Commercial ★ Contract ★ Miscellaneous

Please Note: We can always get started working on submissions or applications that you have already prepared for other markets. CCI Surety, Inc. specializes in hard to place contract bonds that may have previously been declined by other sureties. We use different kinds of tools which allow us the freedom to think outside the box with our underwriting strategy. We are able to get comfortable with difficult situations using escrow / funds control, SBA Surety Bond Guarantee program and working capital deposits as different options to get the bond approved. CCI also has a very successful Easy Start Program for contracts between $250,000 and $1,000,000 that may be obtained with a two page application plus any financial documents that are available. On commercial bond business we handle both standard and non standard business. Contract Bonds – Multiple Markets – Can Provide A+ rated bonds – $3M in-house authority, up to $15M from home office – Quick Turn around – No Agency Requirements SBA Backed Bonds – 2012 National SBA Bond Producer of the Year – Potential to approve bonds even with negative working capital – SBA Bond Program now covers bonds up to $6.5M and in some cases $10M Commercial Bonds – Standard and Non-Standard Bonds – Experienced staff specialized in handling Commercial Bond needs – License and Permit, Fidelity, ERISA, Business Services and Court Bonds – Miscellaneous Bonds

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