Contract Surety Bonds

Contract surety bonds are perhaps the most quickly recognized category when one thinks of surety.  These bonds typically include bid, performance, and payment bonds required of construction (and, yes, even non-construction related) endeavors.  Think: High rise buildings.

Our agency’s focus, however, is on contract surety bonds which operate in the non-construction contract space.  For contract surety, we currently have a minimum threshold surety bond requirement of $150,000.

AmeriPro Surety Bonds’ appetite for contract surety bonds includes the following categories:

• Manufacturer and Supplier Businesses;
• Retailers;
• Furniture Retail Businesses;
• Transportation and Trucking Businesses;
• Office Supplies Businesses;
• Printing Businesses;
• Janitorial Services Businesses (as in an airport or hotel);
• Security Guard Businesses;
• Food Service Business Providers;
• Arborists and Landscaping Companies;
• Electronics Installation Companies;
• Education Services Companies;
• IT, Outsourcing and Technology Solutions.
• School Bus Transportation Providers 
• Other categories of Contract Surety Bonds in the non-construction space.

General Underwriting Procedures

For contract surety, our agency favors applicants and businesses who can show that they are well-established and demonstrably financially healthy entities.

To that end, while underwriting guidelines will depend on the category and type of contract surety business and bond required, we are typically looking for the following:

• A full copy of the Contract or RFP (Request for Proposal), bid or proposal documents;
• A completed questionnaire;
• Audited CPA prepared financial statements for the last 2, and preferably, 3 years;
• Personal financial statements of all owners of the company;
• Resumes of officers and key personnel in your company;
• Healthy business and personal credit standings;
• What you anticipate our single and aggregate bond capacity will be;
• (If requested) Any details of surety bond needs in the past.

Our goal as a surety bonds agency is to provide you with the contract surety bond required.  We would like to also earn and help you meet your other contract surety, and, if ever applicable, commercial and/or court related surety bond requirements.