Products & Services

1. Contract Surety

Contract surety coverage is intended for general contractors, subcontractors, manufacturers and to a lesser extent developers.  This class of business is essentially involves bid, performance and payment obligations.  Due to the commodity nature of the product, we differentiate ourselves through our head on approach to risk, our wide range of underwriting and market knowledge and our quality of service.  We tend to focus on small to middle market contract accounts in order to maximize our expertise and relationships.  Risk mitigation tools can be used to accomplish the issuance of tougher obligations and to mitigate risk for all parties.  Risk mitigation tools include pre award bid evaluations & project reviews, consistent project monitoring, funds disbursement administration, and collateral - when appropriate.

2. Commercial Surety

Commercial surety is a very broad range of surety bonds that can best be described as most non-construction or non “sticks and bricks” related surety obligations.  We are knowledgeable in all types of commercial surety bonds and obligations including; supply bonds, license and permit bonds, court bonds, subdivision bonds and financial guaranty bonds. 

A key competitive advantage of our team is our knowledge base and experience handling tougher commercial risks and leveraged buy-outs.  Again, risk mitigation tools can be used to accomplish the issuance of tougher obligations and to lower the risk for all parties involved.  Risk mitigation tools include analyzing the underwriting from all angles, consistent monitoring of the account and bond risk, funds disbursement administration, and collateral - when appropriate.

3. Developer Surety

Low Income Housing Tax Credit (LIHTC) and Private Development of Low/Affordable Housing Projects – As part of the financing package on many private low/affordable income housing developments, one or more of the owners or lenders may require a performance and payment bond be posted by the contractor and/or developer.  The bond often acts as the lender’s collateral while the project is being built.  It guarantees completion of the finished building.  Oftentimes, when the developer and contractor are owned by similar parties it can create underwriting issues for the surety.  We spend the extra time and effort that is needed to address the complex underwriting issues that can exist in these arrangements. 

Subdivision/Completion Bonds Developers are often required to post subdivision bonds to a municipality in order to guarantee the installation of improvements that will ultimately be dedicated for public use.  Subdivision bonds are different from normal construction performance bonds – in that most of these obligations are self-funded.  It does take a different skill set to underwrite this class of business.  The knowledge of developers, financing, real estate and construction is required.  We have been assisting developers and contractors with their subdivision and completion bond needs for over 15 years.