Performance & Payment Bonds
Many environmental project owners, most notably Government owners, require contracts to be bonded. Bonding is a method of perfecting the obligation under the construction contract to finish the project and ensure that all Sub-Contractors and suppliers are paid.
During the Bidding process a Bid Bond may be required as part of Contractor Selection process. The Bid Bond is usually provided by the Surety providing your Bond Line and is provided for a nominal cost or no cost if you company has an active Line.

Typical Sureties require the following basic underwriting information to support a Bond Line as they attempt to underwrite character, capacity to perform the project and working capital:

• Contractors Questionnaire identifying ownership, history and key relationships
• Corporate Financial "Reviewed" or "Audited" on a percentage of completion basis for regular bonding in excess of $200,000
• Personal Financial of owners
• Key person resumes and details on type of work you specialize in
• Current work in progress information
• Banking information
• General indemnity agreements and sometimes collateral to guarantee the Surety they will be made whole in the event they have to pay a Bond claim. Bond underwriters look at accounts more like Bankers than Insurance Underwriters. They do not expect claims and pursue complete remedies from the contractor and principals if a claim should occur.

Contract Bonding credit is similar to credit provided by a bank. To maintain credit current information is required on a regular basis. The bonding relationship is highly personal one which requires open communication with updates from the contractor on a regular basis from the contractor to the agent and surety.

Please make a selection below for an online Bond Survey:

• Contractor Questionnaire
• Work in Progress
• Personal / Financial
• Bank Reference
• Job Reference

For Current Clients:

• Bid Bond Request
• Final Bond Request
• Job Cost Breakdown

For further information on the Construction & Professional Services Group, or to contact a Frenkel ERS representative, click here.