Fidelity Bond – Application Information
There are many requirements in the bonding process. Express Scripts is requiring a Bond in the amount of $500,000. In addition, the Fidelity Bond must be obtained through a bonding entity with an A.M. Best rating of A-VII or better. The Fidelity Bond must be submitted before the Provider Agreement is offered. The Fidelity Bond must also be maintained for a minimum period of 2 years.
CCI Surety has markets that meet the requirements for Fidelity Bonds.
Fidelity Bond Checklist
- Fidelity Bond Application
- Personal Financial Statement (other forms may be accepted)
- Business Financials
- Key Personnel Resumes
Typically, CCI Surety handles bonds for individuals and entities that are declined by standard markets because of low credit score, financial weakness, or other difficulties. Fidelity Bonds are currently difficult to place and most candidates will need to have fairly strong credit scores and/or financial strength in order to obtain bonds. CCI Surety continues to develop the most competitive bond markets for all types of surety bonds, including Fidelity Bonds, and we will do our best to find a bonding home for your client.
Our Commercial Team
Michelle and Allison both handle Fidelity Bonds in our home office. You can call 866-317-3294 to speak directly with our Commercial Bond Department that will work with you through the process.
If you have any questions about Fidelity Bonds or need more information about our Bond Application, don’t hesitate to contact us – Jim Dillenburg jdillenburg@ccisurety.com 866-317-3294
Our Home Office handles Fidelity 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, Alabama, Georgia, Tennessee, Mississippi, Louisiana, North Carolina, South Carolina, Arizona, California, New Mexico, Nevada, Utah and Washington D.C.
Payment & Performance ★ Bid ★ ERISA ★ Motor Vehicle Dealer Bonds ★ BMC-84 ★ Wage & Welfare ★ License and Permit ★ Commercial ★ Contract ★ Miscellaneous
Please Note: We can get started working on Fidelity Bonds or any other bond declined for low credit score with any 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
