Build Your Bonding Program: Key Members of the Team and Considerations of the Surety Underwriter
Build Your Bonding Program: Key Members of the Team and Considerations of the Surety Underwriter https://domrisk.com/wp-content/uploads/2022/09/dra-surety-1024x536.jpg 1024 536 Dominion Risk https://domrisk.com/wp-content/uploads/2022/09/dra-surety-1024x536.jpgBonding companies use qualitative and quantitative factors to determine the credit they will extend to a contractor. They underwrite their book of business with the assumption that there will be no claims. Issuance of a bid or performance bond is a seal of their confidence in you. When a contractor has sufficient capital and liquidity, a reputation for quality, timely work, and capacity to complete the work, a surety will extend adequate credit. Weaknesses in…
read more