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A Bid Bond Can Take Time – Don’t Delay

A Bid bond can take time to secure, so don’t delay if you need a bid bond for an upcoming bid. We have a contractor client who occasionaly bids on municipal projects. Historically, their projects were small, so instead of purchasing a bid bond, they “self-bonded” by posting 5% of the contract bid. Once they […]

Contractor Bonds – Applications Are on the Rise

Great news for contractors! According to the Census Bureau and the Department of Housing and Urban Development, U.S. housing starts for October were looking great at 894,000 units (seasonally adjusted and annualized). This number is up 41.9% over October of 2011. There were advanced indications that housing starts in October’s would be strong. Building permits, […]

License Bond Options for Contractors with Bad Credit

We recently had a painting contractor who needed a $12,500 California Contractor License Bond. This particular contractor had a low credit score because of some personal financial problems and was having difficulty securing his license bond. In addition, the contractor had a previous bond claim, so he contacted us to see if there was anything […]

New Contractor License Bond Market

Great news for contractors facing high Contractor License Bond premiums. Contractors have been struggling through a difficult economy and are now faced with a new obstacle, a tightening market for contractor surety bonds. Credit scores for many small contractors have plumeted through the sustained real estate slump, so obtaining a license bond has become increasingly […]