Surety Case Study
Overcoming the “But” and Getting Bigger Bids
A masonry subcontractor wanted to bid an $8 to $10 Million Project, but their largest prior project was $4 Million. Also, the CM and contract were tough. Normally a surety would have declined. New strategies were needed.
What We Did
Surety companies generally look at the single and total limits along with other risk parameters to approve the bond.
Instead, with the contractor we went through the project cash flow month by month, calculating income vs. expenses and showed the surety that through proper cash flow management the subcontractor would not only survive but thrive during the entire $8 - $10 million project. As a professional surety agent, we helped mitigate the other risk factors as well.
The subcontractor obtained the surety credit needed to bid the job AND created a higher surety line of credit.
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