In the post-pandemic construction world, the surety will be much more selective in approving a contractor’s bonding needs. Character, more than all other criteria, will be critical to the surety underwriter’s decision.
Given the risks posed by the pandemic, the underwriters will require a more detailed understanding of your finances, business plan, and scope of work. As a result, a contractor looking for surety credit must be prepared to clearly demonstrate how it will navigate the challenges and successfully execute their work.
Join us for a discussion around how to maximize your surety bond program, building a strategic bonding relationship in 2021 & beyond, and underwriter hot buttons – how to prepare.
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Obtain Maryland Construction Network’s Accounting Resource Group – Bonding Requirements in a Post Pandemic Marketplace – Are You Ready