Surety Supports Contractors
A surety relationship provides business advantages.
Establishing and maintaining a surety relationship has tremendous advantages for construction businesses of all sizes.
Surety bonds—
- Enhance your competitiveness by aligning you with resources and with business advisors interested in your long-term growth and success.
- Demonstrate your qualifications to perform the contracts you seek to be awarded.
- Are indicators of your credibility and stability within your marketplace.
- Provide independent evaluation and protection when you are involved in contract disputes.
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Surety bonds help contractors address subcontractor failure risk.
Surety bonds can help contractors address the risk of subcontractor failure.
Subcontract bonds—
- Transfer the risk of subcontractor default from you to the surety company.
- Through the rigorous prequalification process, help assure that the subcontractor is qualified to perform the subcontract work.
- Protect you from paying twice for the same work and materials if the subcontractor fails to pay its subcontractors and suppliers.
- Protect you from liens against private property if the subcontractor fails to pay its subcontractors and suppliers.
- Cause you to be viewed favorably by your own surety company and lender.
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NASBP bond producers are happy to speak with anyone needing information about surety bond relationships. To find a dedicated NASBP surety professional near you, click 'Speak with a Surety Pro'.