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Originally Posted by Bond Magician How long do I have to bid smaller jobs before I can apply and get approved for the Complete Bond Line? A year? Or would it be longer? |
Very possibly longer. Experience is definitely a requirement for larger bond lines, as well as CPA prepared (reviewed on an accrual basis) financial statements for 2-3 years showing profitability.
If you are a proprietorship, it will be difficult to get increased above a $200K single limit and $400K total aggregate line of bonding.
I hope this answers your question. If you want to discuss this further, please feel free to call our office to speak with a bond representative.