Shamrock SBS Insurance Quotes for Surety Bonding Forum

Joint Control Guardianship bond means an agreement that the attorney will oversee you actions as guardian to ensure it is done properly. However, if a claim arises, no action would be taken against the attorney, as it is more of a good faith agreement than a guarantee. Joint-control agreements are o...

It should be included as most of the Obligees expect to pay for the bond but rarely reimburse you after a contract has been signed if the premium was not included. Generally the cost of the performance and payment bond is included in your bid price.

These financial statements would not be acceptable to sureties as they are hard to verify and lack the stamp of approval of an independent auditor. Some sureties may offer modest programs based on review statement but most of them would require audited financial statements.

The surety company has asked me to provide financial statements of last three years. I know this is Vital, but can anyone explain which documents I should include?

The basic criteria would include: • Your Reputation and good market references • Your ability to meet current obligations • Whether your experience matches the contract requirements or not • Do you have the necessary equipment to do the work or the ability to obtain it • Are you financially strong e...

There is a small service fee due for the Bid Bonds. There are two options for paying the Bid Bonds - a fee for each bid or an annual charge for unlimited bid bonds. The fee could vary from $50 to $300.

My General Contractor has asked the subcontractors to provide performance bond for a future project. I need to know that whether getting bid bonds from the subcontractor community will help in securing the performance bonds for future successful subcontractor. Also would it be sufficient to request ...