Stop Losing Big Projects. Tips to Get Your Construction Business Bonded
General contractors are required to purchase construction bonds for all federal public works projects. Unfortunately, project owners and general contractors are also requiring more and greater surety bonds on privately owned commercial projects as well.
In these circumstances, a contractor is often faced with the challenge of maintaining a strong and healthy financial position in order to increase their ability to receive a bond. Surety companies are now taking a good, hard look at financial statements to determine the risk when issuing construction bonds.
How can a contractor stay ahead and win projects that are unavailable to non-bonded or under-bonded contractors?
We have some tips on how to increase your bonding capacity.