The NASBP Producer Communications Toolkit 2.0 helps bond producers talk about surety bonding with construction project stakeholders in a compelling way. It’s important to discuss surety in terms of successful outcomes for projects and reputations to ensure clients see surety as a business advantage.

A great way to accomplish this is for potential clients to hear directly from contractors, project owners, and lenders as to why surety bonding and the relationships with the bond producer and surety company are so important.

The NASBP Surety Story Video Series (also found under “Surety Stories” at the NASBP Be Guaranteed To Succeed site) features project stakeholders talking about why surety bonds are important and how strong relationships with surety bond producers and surety companies are vital to their business success.

 

Expanding a Business
This video with Shaun Egan of Iron Woman Construction is helpful to share with clients looking to expand their businesses. The contractor points out that he would not have been able to grow and diversify the business without a surety partnership. He details the first bonded project his company took on in a new area, noting that because of that project, his company was able to launch a new utility division.

 

When the Unexpected Happens
Alex E. Paris of Alex E. Paris Contracting highlights the importance of building a trusting, honest relationship between the contractor, bond producer, and surety company. He relates that this strong relationship allowed his company to continue to prosper even when the company leader, his father, unexpectedly passed away. Without that relationship his company’s bonding program might have been reduced or cut all together.

 

Guaranteeing Subcontractor Work
Robert Majerus of Hensel Phelps Construction describes the confidence that bonded subcontractors bring to a project. The GC knows that if a bonded subcontractor fails to complete their work, the surety will come in to complete the work. The GC can rely on the fact that the work will be finished and the project will be protected and completed.

 

A Project Owner’s Perspective
When one is persuading a project owner to require performance and payment bonds, it may be helpful to hear the perspective of another project owner on the importance of performance and payment bonds. In this video, John Sutika of Penn Highlands Dubois Regional Medical Center, who is a project owner and medical center executive, describes bonding as a “safety net” that will be there if something goes wrong, protecting the project and the community. He shares that it’s vital for a medical center project to be completed on time and performance and payment bonds ensure that completion.

 

A Lender’s View
Dean Hirabayashi of American of Savings Bank wants to offer loans to projects that bring value to the community so it can thrive and grow. He knows that for the future of the community, construction projects need to be delivered on time and on budget. When he sees that a GC has a successful bonding program, he knows the company is highly qualified to do the work and can ensure the project will be completed successfully.

 

Contractor’s Team of Advisors and the Importance of Surety
This video relates the importance of the bond producer as an advisor to the contractor. Shane Brown if CPA Firm Plant Moran points to highways, parks, and other projects that are available only because contractors take risks and learn to manage those risks. He points out that successful contractors look to their team of advisors, and their bond producer in particular, for knowledge and advice to help them manage risks and be successful.

 

Surety Bonds Offer Peace of Mind to All Construction Project Stakeholders
Dan Nishikawa of First Hawaiian Bank shares a compelling story of why the bank insisted a project owner ensure his contractor was bonded for the project. This video conveys the importance surety holds in creating value for project owners and their lenders, helping all parties to “Be Guaranteed To Succeed,” even if an unexpected setback affects the project’s completion.

 

Bonus: Tips for sharing Surety Story videos
This PDF offers instructions for using Surety Story videos in social media, in a slide presentation, emails, and even embedding them on your company website.

 

Find shorter videos at the NASBP series of Surety Shorts videos.

These are just some of the valuable, free tools NASBP bond producers will find in the NASBP Producer Communications Toolkit 2.0 to help them promote the surety product to construction project stakeholders, including project owners, lenders, architects, and contractors.

Check out NASBP’s social media posts every Friday to learn more about the new NASBP Toolkit 2.0 resources. Visit the Toolkit 2.0 to learn more. #BeGuaranteedToSucceed #surety.