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

Larger Bond Line

Written by Jim Dillenburg on . Posted in Surety Bonds

Larger Bond Line

Prepare your contractor to participate in the coming infrastructure spending boom with larger bond lines while avoiding collateral.

Many parts of the country are experiencing construction optimism both in the quantity of projects available and the size of the projects. Larger projects take up capacity for large contractors and that leaves more  projects for smaller contractors. There are steps to take for insurance agents anticipating bond needs for their contractors.
1. Prepare for Larger Projects (even without CPA Financials)
Contractors that fit easily into credit-based quick programs need to be able to obtain a larger bond line and jump to projects that exceed the low limits of these programs. A review by CCI Surety now ensures that you have a plan in place for your contractor before they consider shopping for larger bond lines.
2. Get out of Collateral Arrangements
Bond programs that require collateral can drastically limit a contractor’s ability to obtain a larger bond line when more frequent and larger projects become available. CCI Surety exhausts all options rather than taking collateral and even if we do need a form of collateral we make it available to the contractor to use for hard costs on projects.

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 or setting up a larger bond line, don’t hesitate to contact us –

Jim Dillenburg
[email protected]
866-317-3294

 

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Our Home Office handles larger bond line 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.

 

 

 

 

 

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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 a larger bond line. 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

BMC-84 Bond

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

BMC-84 Bonds – Claims and Other Factors

Freight Brokers were required to increase their bond size to $75,000. Initially these bonds were expensive and very difficult to place. Multiple factors have changed in the last few years and some Freight Brokers are looking to return to the industry after deciding to forego the more difficult bonding process. We have also seen some areas where claims on BMC-84 Bonds have increased. In these changing and competitive situations it is important to stay diligent during renewal season. There may be more competitive offers available to clients that have BMC-84 Bond needs. CCI Surety is always looking to make sure we have competitive quotes, even on renewals.
Please reach out with any questions or new accounts that you would like feedback on.

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

BMC-84 Bond

BMC-84 Bonds are handled in our home office.

Our Home Office handles BMC-84 Bonds 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 $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, BMC-84 Bonds, Business Services and Court Bonds – Miscellaneous Bonds

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.

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

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

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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

BMC-84 Bond Renewal

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

$75,000 BMC-84 Bond  Renewal

 

1 Page Application – No Financials Required

In 2013, the FMSCA increased the bond requirement for BMC-84 (Formerly ICC Freight Brokers) Bonds from $10,000 to $75,000. Starting in July and August, freight brokers and their insurance agents will start receiving renewal notices for their BMC-84 Bonds.

It is important that you keep your clients by making sure you have the lowest quote available. Sureties that have written many of these bonds may be offering lower rates than they did in 2013 when these bonds were first raised to $75,000.

BMC-84 Bond Application

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 bad credit 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, 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

BMC-84 Bond

Written by Jim Dillenburg on . Posted in Surety Bonds

New $75,000 BMC-84 Bond

As the dust settles on the October 1st BMC-84 Bond rush, we are now into the next phase where sureties are now in a position to potentially back date bonds in order for Frieght Brokers required to obtain the to be in compliance with the new regulations. The new $75,000.00 bonds that have been completed are already in force but there are still new accounts looking to obtaining bonding during the FMCSA grace period and while sureties are still willing to backdate BMC-84 Bonds. We are still able to accept our one page application found below. This program issues bonds without collateral and does not require financial information. If there is financial information, especially CPA reviewed financials, then the rate could be reduced. There is still time to get BMC-84 Bonds issued and backdated to October 1st in order to be in compliance with the new regulations.

BMC-84 Bond Application

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

Jim Dillenburg
[email protected]
866-317-3294

All commercial bond business (including BMC-84 Bonds) are handled through the home office.

All commercial bond business (including BMC-84 Bonds) are handled through the home office.

Our Southeast Region office handles bad credit bond situations in Alabama, Florida, Georgia, Louisiana, Mississippi, North Carolina, and South Carolina.

Our Home Office handles bad credit 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, 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 3 x 5 program, which allows us to approve single bonds up to $300k and / or an aggregate program up to $500k, with just a two page application and no financials required.  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

Quick Application

Written by Jim Dillenburg on . Posted in Surety Bonds

Quick application programs are great tools when your contractor fits into the program but there are important things to remember about quick program limitations and what to do if your account does not fit the program.Quick application programs are not necessarily a “Non-Standard” option. Many accounts that cannot fit into a typical quick program can still obtain bonding through true non-standard markets.Below are some suggestions on when to start working on alternatives and what to do if your client’s next project does not fit into the quick program.
When You Submit a Quick Application
When you submit a quick application for any program you should use that information to prepare for alternatives. Sending a copy of the same application to CCI Surety can allow us to give you feedback on the account and allows us more time to prepare options for you in the event your account does not qualify for the quick program.

When An Account is Declined

If you have not already submitted information to us, it is now time to. Although the original market may continue to work on the account while requesting more information, it is important from a timing perspective to start getting information to CCI Surety. It is likely that we will also require more information than the quick application provides, it is also more likely that we have the non-standard expertise to keep the bond opportunity alive.   

When An Account is Approved in A Quick Program
Even after an account is approved in a quick application program there are many instances when preparing the account for the future is warranted. If the account handles projects or an aggregate amount of work that exceeds the quick programs limits it is important to be prepared to handle larger projects.Jim Dillenburg – [email protected] – 866-317-3294

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Our Southeast Region office handles bad credit bond situations in Alabama, Florida, Georgia, Louisiana, Mississippi, North Carolina, and South Carolina.

Our Home Office handles bad credit 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, and Washington D.C.

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