Williams & Associates: Contract Surety Bonds

From a contractor's point of view, there are some major issues that we need to address. The following are a few of those issues:

When a contractor takes out a set of plans for a project, he needs to know that he is able to bid that project and at the amount of his bid. As soon as the contractor thinks about bidding a project, we do request that he provide us with information about the project so we are able to get his bid bond approved long before the bid date. We make sure that this bid fits into his work program, and if it is a stretch for the contractor, we work with the contractor and the bond company to get this type of project approved.
There are times when bond companies may have underwriting issues with the contractor. We are able to solve these issues because of our knowledge of the construction business and also the underwriting that the bond company does. We do our own underwriting for each individual contract account BEFORE the bond company ever sees it. This enables us to review each account and determine if any questions will arise. Getting these issues resolved early will enable us to more easily place the contractor's bond account.
We are able to obtain the most competitive rates and work programs for each contractor that we write thus enabling the contractor to be competitive with his bid. We talk at length with the contractor to develop a work program that best fits his needs and also at a rate he/she feels that they need to be competitive. We represent a wide range of bond companies that offer a variety of rates and work programs for contractors depending on their needs.
For the contractor's protection, we review all documents and contracts that a contractor may enter into before or after a bid. This would include, to mention a few...bid specs as relates to insurance, contract documents with the owner, joint venture agreements if needed, and other information as needed.

Because of our automated system, we can produce all of a contractor's bond needs electronically. With this system, we are able to guarantee turnaround time within 24 hours to all of our accounts. We get the bonds out either by regular mail, overnight mail, or in emergency situations, we do deliver the bonds to the contractor.