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@example.com – 866-317-3294
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