Construction Contract Bid, Performance & Labor/Material/Payment Bonds
(Projects more than $1,000,000)
This application page is specifically for obtaining such bonds without necessarily having CPA prepared financial statements. Although employing the services of a CPA to maximize bonding capacity is usually recommended, we can help you bond larger jobs IF you can send us fairly comprehensive financial statements along with thoroughly completed paperwork documenting your company's qualifications .
What to do:
* Print, complete and return the Questionnaire (below) with:
* Business Financial Statements - At least internally prepared financial presentations are the most important items. The latest two fiscal year ending (usually December 31) statements is usually enough. Additionally (if it has been more than six months since your company's fiscal year-end) additionally provide a more current "in-house prepared" statement. Statements should include a balance sheet, a profit and loss statement, agings of Accounts Receivables & Accounts Payables and a schedule of "Incomplete Work" or a "Work In Progress" at year-end. (see our "Documents" page for a form). For examples of how financial statements appear when prepared by a CPA, look at our "Tips for Success" page. Improving to a better quality financial statement can really help, however sometimes there is a cost/benefit analysis that we can help you with if you would like to discuss first.
Additional (usually necessary) items:
* Bank statements - First page of personal & company bank statement(s)
* Federal Tax Return(s) - Latest year, both business & personal (First 10 pages)
* Work on Hand Schedule Form
* Personal Financial Form
* Bond Request Form
* For Performance/Payment Bonds, Contract Agreement or Purchase Order
Potential additionally needed items:
* Proof of Insurance (Declaration Sheet Only)
* Bank Line of Credit - Document size & current availability
* Owner/Key Employee Resume(s) Form
* Real Estate Schedule Listing
* Company Brochures/Pamphlets/Literature
* Business/Continuity Plan(s)
* Alternate program that provides bonds for projects up to $1,000,000 here. (See application for requested items):
Bonding is available without the above! Sometimes some of the above is needed, sometimes it is never asked for. We recommend that you send us any of the above you have available. The more you can give us, the more tools we have to present your qualifications to bond companies. Time is important! Send us what you can right now. Make it a point to send missing items later.