2M Bond Support
Your Bond Support is determined from a single/aggregate bond need and based on experience, credit, and working capital. The following is a guideline. Keep in mind bonding is very subjective and exceptions can be made with the proper preparation and presentation to the right market.
Largest single size project you expect to bid or perform
Is the total combined projects you expect to manage at one time
There is No Cost Involved in setting up or maintaining your bond line and bid bonds are free the only time you pay is when you are awarded a job and need a performance and payment bond.
What are the requirements to obtain bond support for projects up to 2,000,000?
WIP - Work in Progress
Bank reference letter
Personal Financial Statements – Provide a current personal financial statement on each owner
Resumes of not only owners but key employees with a focus on Previous and current experience. Detailing key role, project size, scope.
References from your various completed projects awards and accomplishments
Experience typically a surety will extend credit up to 2X your largest job to date. As we mentioned Bonding is subjective and certain exceptions can be made.
Financial requirements to obtain bond support for projects up to 2,000,000?
Company Financial Information – Provide the latest fiscal year-end financial statement.
If more than 6 months old, also include a current interim financial statement.
If CPA-prepared financial information is unavailable, provide the company’s in-house prepared financial statements or the company’s most recent tax return.
Request the bond kit below and a surety specialist will be in touch to guide you through the process
NIELSON HOOVER AND COMPANY
220 CONGRESS PARK DRIVE, SUITE 100 DELRAY BEACH, FLORIDA 334455