ARC Bond coming due

[bad2thebond]

My ARC Bond is coming due for renewal. Do I have to submit new business financial statements every year to have my bond renewed?

[lifeisgood]

Generally the Surety will notify you of an updated business financial requirement prior to your bond renewal. Contact your surety and they should be able to answer your question.

[h2o]

Generally the Surety will notify you of an updated business financial requirement prior to your bond renewal. Contact your surety and they should be able to answer your question.

If updated business financials are required, do they need to be CPA-prepared or can they been in-house financials?

[lifeisgood]

Majority of the time the surety will require CPA Prepared Financials for the fiscal year end. The do allow in-house year to date though