Performance/Payment Bond

[Mr. Bond]

I was supposed to get a Performance & Payment Bond from my insurance guy for a bid tomorrow and now he told me that because I've only been in business for less than a year that he cannot provide me with one. Can I get one from you and will my business being in operation for less than a year hurt my chances? It's for a job in Florida

[Surety Queen]

Originally Posted by Mr. Bond

I was supposed to get a Performance & Payment Bond from my insurance guy for a bid tomorrow and now he told me that because I've only been in business for less than a year that he cannot provide me with one. Can I get one from you and will my business being in operation for less than a year hurt my chances? It's for a job in Florida

We can absolutely get you approved for bonds up to $200,000 if you qualify. To qualify the owners of the company must have good personal credit. The Fast Track program doesn't care that you have only been in business for a short period of time. In fact, it is designed for new companies starting out. I'm not sure we can get an approval for a bid tomorrow, but we can certainly pre-qualify you so you know whether or not you can get bonds. You could bid tomorrow's job with certified check and then - if approved - will be able to get a final bond if you are awarded the project. To learn more about performance and payment bonds, please visit the following website:Surety Bond Types: Contract Bonds