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

Alabama Motor Vehicle Dealer Bond Renewal

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Alabama Motor Vehicle Dealer Bond Renewal

August when the renewal process for Motor Vehicle Dealer Bonds in Alabama must be renewed. Our commercial department handles Motor Vehicle Dealer Bonds in Alabama and we’d be happy to offer you a competitive quote or work on accounts that have weakened and are no longer qualified for their current market. Although CCI Surety specializes in working with accounts that have bad credit or poor financials we can handle both standard and non-standard commercial business.

Alabama Motor Vehicle Dealer Bond Renewal Application

We can get started from any existing application you have filled out for an Alabama Motor Vehicle Dealer Bond Renewal. You can also start your bond renewal with our one page application, Alabama Motor Vehicle Dealer Bond Application or send us an application you have already filled out for another market to get started.

 

Jim Dillenburg

CCI Surety, Inc.

[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.

BMC – 84 Bonds Must Be Paid and Filed by October 1st

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Documents and payment related to BMC-84 quotes must be received before October 1st in order to guarantee they will be in place by the October 1st FMCSA deadline. Previously it was believed that the bond could be back dated to October 1st as long as it was received before October 31st. This has changed and finalizing the bond before October 1st is the only way to guarantee both the rate and that the bond will be filed on October 1st to be in compliance with the new regulations.

Freight Brokers – Revocatoin of Authority

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We have been keeping you up to date as much as possible on the change to the $75,000 requirement on freight brokers (BMC-84) bonds. This week the FMCSA has sent out “Revocation of Authority Notices” to freight brokers. If you haven’t already, it is approaching crunch time to reach out to your clients and be prepared to address new clients as those that haven’t planned according start to scramble. Contact CCI for more information about our 1-page application that does not require financial documents and will not require collateral.

Jim Dillenburg
866-317-3294
[email protected]

BMC – 84 Cancellation Notices

Written by Jim Dillenburg on . Posted in Uncategorized

Welcome back from the holiday weekend! Some of your clients may be receiving cancellation notices from their surety as early as this week on their $10,000 BMC-84 Bond (formerly the ICC Property Broker Bond). As we have mentioned in the past, the bond requirement for these bonds is increasing to $75,000.00 on October 1st, 2013 and some sureties will no longer write this business. You can obtain a quote for the new BMC-84 Bond by following the steps below and filling out the one-page application.
Get started Now

1. Fill out the information in the “Contact An Underwriter” fields, or go to the commercial page and download the correct application.

2. If you already have an application filled out with the same information we can start working from that application immediately.

3. If you have questions, call our Commercial Bond Department at 866-317-3294 or email [email protected]

Sincerely,

Jim Dillenburg
CCI Surety, Inc.

BMC–84

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BMC-84 Bonds

CCI Surety, Inc.
Quick Hits – BMC-84 Bonds
July, 2013 *UPDATED 5/3/2018

We are excited to announce that we are still quoting the $75,000.00 BMC-84 Bond with very competitive rates. With this program we may also be able to help new companies attain this bond.

Get started Now

1. Reply to this email with a completed application:

$75,000.00 BMC-84 Bond Application

2. If you already have an application filled out a BMC-84 bond application with the same information we can start working from that application immediately.

3. If you have questions, call our Commercial Bond Department at 866-317-3294 or reply to this email.

 

 

SBA Bond Specialist

CCI Surety handles BMC-84 Bonds Nationwide with experienced underwriters in each 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, Arkansas, Texas, Oklahoma, Kansas, Missouri, Illinois, Indiana, Michigan, Wisconsin, Minnesota, Iowa, Nebraska, South Dakota, North Dakota, Montana, Wyoming, Colorado, Idaho, Oregon, Washington, Hawaii, Alaska, Washington D.C., Florida, Georgia, Alabama, Mississippi, Louisiana, Tennessee, North Carolina, South Carolina, Arizona, California, Nevada, New Mexico and Utah

Our Southeast Region Office Handles contract bonds in Florida, Georgia, Alabama, Mississippi, Louisiana, Tennessee, North Carolina, South Carolina

Our Southwest Region Office Handles contract bonds in Arizona, California, Nevada, New Mexico, and Utah

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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 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 because of low credit score or other financial situations. 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 – 2017 Top SBA Surety Bond Agent – 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, BMC-84, Fidelity, ERISA, Business Services and Court Bonds – Miscellaneous Bonds

Florida Expansion!

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We are happy to announce the new office location for our Tampa, FL office. We hope our clients find the new location more convenient and the expansion of our Southeast Regional office will allow increased capacity to handle accounts that are turned away by standard markets or standard accounts that need to stretch beyond their current bond program.

Our phone numbers, email addresses, and website all remain the same, so there is no interruption in our ability to handle your business. As of April 5th, 2013, our new physical location is:

CCI Surety of Florida, Inc.

1408 N. Westshore Blvd., Suite #120

Tampa, FL 33607

Sincerely,

Andrea J. Haight

Assistant Vice President, CCI Surety, Inc.

New SBA Bond Guarantee Program

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This February we were excited to report the increases to the new SBA Bond Guarantee Program. In March, we are even more excited to report that we are already having success utilizing the program for bonds that would have previously been too large for the SBA Bond Guarantee Program. Most recently, our Florida Office was able to get a $5.2M project in Georgia written. Our experience utilizing the current SBA Bond Guarantee Program increases your chance to successfully place your client’s bond.

Don’t hesitate to contact us if you have any accounts that don’t fit your standard markets, or if you need a second non-standard opinion. Although the SBA program is exciting we have many different tools we can utilize to get the job done.

Sincerely,
Jim Dillenburg – [email protected]

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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.

SBA Details

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All of the accounts we work on are non-standard, which means they always have at least some challenges. Even though we’ve had a long history of success utilizing the old SBA Guarantee Program limits, I was interested to see how working with larger contracts would go. Working closely with the SBA, agent, and contractor we were able to overcome all challenges. This is a deal that would not have been completed without the support of the SBA Bond Guarantee Program.
~ Andrea J. Haight
Assistant Vice President
CCI Surety of FL, Inc.

SBA Bond Program Limits Increase

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SBA Increases Project Size Limit to $10M – details:

Previous Maximum
$2M per project

New Maximum Project Size

$6.5M – On any bond, subject to normal underwriting consideration outlined in the previous SBA Guidelines
$10M – Possible on any bond, subject to normal underwriting consideration outlined in the previous SBA Guidelines and performed for a Federal Government Agency

Underwriting Authority

CCI Surety will continue to use our in-house underwriting authority to approve bonds and maximize our expertise working directly with the SBA Bond Guarantee program

Small contractors have varying levels of financial reporting and the SBA allows for varying levels of reporting based on contract size.
Financial Documents Required

Required
Financial Year End (FYE) statement (prepared within 90 days)
Minimum 6-Month Interim statement

Minimum Financial Statement Requirements

Project Size FYE Interim

Up to $1.0M In-House In-House

$1.0M – $2.0M Compilation In-House
(One-time Only)**

$1.0M – $10.0M Review Compilation

*With Verification
**In-house interim financials potentially accepted once

Business Size
Allowable business sizes based on total sales and the number of employees are determined by NAICS code and vary depending on the type of business. Total sales can be as high as $33.5M in many cases.
SBA Paperwork The SBA has greatly reduced the amount of paperwork needed to utilize the program. In addition to our normal underwriting documents there are only Two 1-page SBA forms, that need to be filled out.

Negative or Insufficient Working Capital

Escrow Agreements/Funds Control + 5% Escrow Deposit The SBA recognizes the value of utilizing escrow agreements and funds control to potentially mitigate risk on projects. Utilizing an escrow agreement and funds control process in addition to a 5% deposit into the escrow account allows CCI to utilize the program even if the contractor has negative or insufficient working capital.
Additional Options Although not typically used, additional forms of collateral or other considerations such as third party indemnity can also be utilized to approve a contractor for the SBA.

Happy Holidays From CCI Surety

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As we wind down 2012 we would like to wish the best to all and look forward to working with you in 2013.

Don’t hesitate to contact us with any questions or accounts that need review.

Tampa, FL – Office
Florida, Georgia, Alabama, Louisiana, North Carolina, South Carolina, Mississippi

Home Office, Minneapolis, MN
Arkansas, Arizona, California, Colorado, Connecticut, Washington D.C., Delaware, Iowa, idaho, Illinois, Indiana, Kansas, Kentucky, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, Montana, North Dakota, Nebraska, New Jersey, New Mexico, Nevada, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Dakota, Tennessee, Texas, Utah, Virginia, Vermont, Washington, Wisconsin, West Virginia

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