Contractor Resources

SURETY RESOURCES FOR CONTRACTORS

Do’s and Don’ts of Smart Contract Bidding for Construction Firms


NASBP Article - Do’s and Don’ts of Smart Contract Bidding for Construction FirmsHere are the do’s and don’ts of bidding smarter with bonding in mind from a contract surety underwriter. These may help contractors bid smarter and protect their profits.

NASBP ARTICLE

Answers to 51 Questions Small Contractors Ask About Bonding


This document provides answers to common questions small contractors ask about surety bonds in a Q&A format.

NASBP DOCUMENT

How to Obtain Surety Bonds


This document describes the underwriting and prequalification process involved in obtaining surety credit, including a general idea of the documents and financials that sureties require contractors to provide.

NASBP DOCUMENT

When Should a General Contractor Require Subcontract Bonds


This article offers information on subcontract bonds, including answers to questions about requiring a subcontract bond, prequalification, and what happens when a subcontractor defaults. This is a good resource for contractors who are making decisions about subcontract bonds.

NASBP ARTICLE

Subcontract Bonds: Four Times When General Contractors Need Subcontract Bonds


This Pipeline article describes four instances when a general contractor should require a subcontract bond on a project and provides fundamentals to help contractors make decisions about subcontract bonds.

NASBP ARTICLE

What You Need to Know to Understand the Surety Process


This is a great resource for contractors new to surety. This article offers an introduction to contract surety, describing the three-party obligation for a contract surety bond, types of contract surety bonds, and some suggestions for contractors for what may be needed during the review process.

NASBP ARTICLE

What You Need to Know About Joint Ventures in the Construction Industry


This set of three articles offer an in-depth look at Joint Ventures (JVs) and provides contractors (and bond producers and sureties providing bonds to a JV) factors to consider before taking the leap into the world of JVs.

NASBP ARTICLE

The Importance of the Principal's Character


This article briefly describes the role and evaluation of the principal’s/contractor’s character in the decision-making process determining the risk associated with issuing that contractor a bond.

NASBP ARTICLE

Building Character and Acquiring Knowledge Go Hand in Hand


This article briefly describes the principal’s/contractor’s three Cs: capital, capacity, and character that are at the heart of surety underwriting.

NASBP ARTICLE

Always Verify Your Bond!


This one-page tool, which can be offered to clients, sets forth a two-step process to help verify the authenticity of every contract surety bond before acceptance.

NASBP DOCUMENT

AGC DOCUMENT: The Contract Surety Bond Claims Process


This guide describes the contract claims process, including what obligees should expect in a performance default situation and what a claimant should expect in a payment bond claims situation.

OTHER RESOURCES

Surety Bond Quarterly Magazine


NASBP Surety Bond Quarterly MagazineNASBP's quarterly, professional magazine, offers insights and information for surety professionals as well as others who need to stay up-to-date on the industry’s latest news and developments. Surety Bond Quarterly is distributed to the NASBP membership as well as project owners, public officials, subcontractors, contracting officers and others who are affected by developments in the surety industry. Sign up for your copy, delivered to you without cost.

OTHER RESOURCES

NASBP Podcast - "Let's Get Surety"


NASBP Let's Get Surety Podcast Logo NASBP’s Let’s Get Surety: Let Me Hear Your Bonding Talk podcast offers engaging stories, insights, and expertise on the world of surety and related topics. Contractors will find the free episodes a useful and entertaining listen!

OTHER RESOURCES

NASBP SmartBrief: News for Surety and Related Professionals


A weekly snapshot of the surety industry with news from leading sources representing construction, insurance, and other industries. NASBP SmartBrief provides summaries of what matters to you, written by expert editors to save you time and keep you informed and prepared.

OTHER RESOURCES

NASBP's SuretyLearn


SuretyLearn offers high quality learning and professional development resources for surety and related professional, including Virtual Seminars and on-demand learning. SuretyLearn also features special resources for Contractors, (found under the 'Resources' menu item).

OTHER RESOURCES

Be Guaranteed to Succeed: Hensel Phelps Construction


This video shows a construction executive of the largest airport builder in the U.S. describing the important role played by subcontract bonds and his company’s approach to successful projects.

NASBP VIDEO

Be Guaranteed to Succeed: Plante Moran


Shane Brown of Plante Moran explains how the inclusion of a CPA firm as part of the surety team makes for a powerful combination. Best-in-class contractors are good risk takers that don’t assume they have all the answers and will seek advice from their surety partners.

NASBP VIDEO

Be Guaranteed to Succeed: Roebbelen Contracting


Ken Wenham of Roebbelen Contracting explains how his construction company and its employees benefit from and value advice and counsel of the company’s surety team regarding major decisions, such as ownership succession and more.

NASBP VIDEO

Be Guaranteed to Succeed: Alex E. Paris Contracting


Alex Paris describes that, when his father died, his company’s long-time relationship with its surety team ensured the company was able to continue conducting business.

NASBP VIDEO

Be Guaranteed to Succeed: DMZ Builders


Rich Zito, a construction executive with DMZ Builders, describes how much he values his relationship with his surety bond producer. He states that he relies on the producer to help build his company’s portfolio of work.

NASBP VIDEO

Be Guaranteed to Succeed: Power Engineering Construction Company


This video highlights the significance of a long-term, team-like relationship between bond producers and contractors.

NASBP VIDEO

Be Guaranteed to Succeed: Iron Woman Construction


This video showcases how the surety partnership helped Iron Woman grow and diversify into a new market. Shaun Egan explains that without surety bonds and an established relationship with his surety team, the company would not have succeeded.

NASBP VIDEO

Be Guaranteed to Succeed: Concrete Works


Bill Brasher describes how how his company, which has been in business for 40 years, relies upon the trust it has among its surety team members. With many unknowns during a project, that trust helps enable Concrete Works to focus on delivering quality services and project results.

NASBP VIDEO