Alternative to Contract Bond?

[Bond Magician]

I am required to have a $15,000,000 contract bond. I have called numerous surety companies and agencies, and it seems that nobody is able to write a bond for such a high amount. Is there an alternative to a bond, or is there a way for me to avoid having to acquire a bond?

[Surety Queen]

Originally Posted by Bond Magician

I am required to have a $15,000,000 contract bond. I have called numerous surety companies and agencies, and it seems that nobody is able to write a bond for such a high amount. Is there an alternative to a bond, or is there a way for me to avoid having to acquire a bond?

Its quite common on larger performance/payment bonds for co-surety arrangements to be in place. The number of suretys involved can be up to 4 or 5 depending on value.

As far as a way to avoid the bonding requirement altogether? You would need to speak with the Obligee about that to see what they might accept.

[bondman]

Originally Posted by Bond Magician

I am required to have a $15,000,000 contract bond. I have called numerous surety companies and agencies, and it seems that nobody is able to write a bond for such a high amount. Is there an alternative to a bond, or is there a way for me to avoid having to acquire a bond?

$15,000,000.00 isn't particularly large unless there is a credit/risk issue causing the reluctance to write the bond.