Surety Bonds Protect Businesses
Dec 17, 2021
Dec 17, 2021
Oftentimes, a contractor’s success comes down to whether they can complete a project on time and within budget compared to their submitted bid. Likewise, large general contractors depend on their subcontractors’ performance in order to receive payment. Surety bonds protect the projects’ owners by ensuring the project is completed per the contract terms. Most local, state and federal government contracts – and many private jobs – require some level of assurance on performance. For small operators and large commercial contractors alike, the ability to be bonded is crucial to being awarded these projects.
Ready to get bonded? Not so fast. While surety is simply defined as a third-party guaranteeing the performance or payment of one party to another, surety bond underwriting is not so simple. It often requires CPA reviewed or audited financial statements, work in process and backlog schedules, and more. For the commercial contractor or businessperson, it can be a daunting, resource-consuming task.
Oakbridge, a Top 100 Independent Insurance Broker, understands your bond needs. Every day, we help contractors across the Southeast obtain bonds for projects of all sizes. Whether it’s a quick bond that’s needed or a larger, more complex surety program, our dedicated staff of professionals is ready to help.
Our Bond & Surety program is tailored to the very specific needs of business owners and contractors:
For nearly a century, Oakbridge has been providing bond protection for our clients. We’ve placed bonds for contractors new to bonded work as well as for large, established contractors. Let us partner with you to help your business grow.
Oakbridge: Deeply Rooted to Grow Your Business