The new online application system is tailored to fit the needs of construction contractors, including those engaging in government or public projects. Surety Bond Professionals’ service requires minimal paperwork and helps users obtain the maximum bond limits for projects of any size.
For more information, visit https://www.suretybondprofessionals.com
The launch of the surety agency’s online application system coincides with a Forbes Magazine article highlighting the importance of bid bonds for both contractors and project owners. According to the report, a bid bond is a prequalification process ensuring that the low bidder has the relevant experience, track record, and financial capability to complete the job.
Surety Bond Professionals explains that bid bonds help maintain the reputation and accountability of the contractor. Without these bonds, contractors will have the freedom to accept any project even if they cannot finance it, leading to delays in the construction or a decrease in the quality of the output.
For project owners, especially state and local agencies, relying on bid bonds to choose the right contractor means they can easily sift through frivolous bidders and find serious contractors who can get the job done. Surety Bond Professionals states that it also saves them possible legal costs because by hiring a reliable contractor, the project owner lowers their risk of suing for damages or breach of contract in the future.
When applying for a bid bond, contractors start by contacting Surety Bond Professionals. There is typically no fee for a bid bond, but bid bonds are given with the intention that a subsequent Payment & Performance Bond will be issued (and a fee charge then) if the contractor’s bid is low on the project.
About Surety Bond Professionals
Surety Bond Professionals is a family-owned and operated bond-only agency with experience spanning 30 years. They offer competitive terms for contractors and have access to 25 different surety markets. Well-known for their friendly customer service, they treat each client as their “business family” and work to help them grow their revenue.
“We strive to offer each and every one of them unsurpassed attention and support to ensure a mutually beneficial relationship. We have a keen understanding that success for everyone is only possible through helping all of our constituents achieve their goals and objectives,” a spokesperson said.
More information is available at https://www.suretybondprofessionals.com
Surety Bond Professionals, Inc.
205 Union Street