Performance Bond Question?

[marthaj]

I will need a performance bond in the amount of 50,000 for Tenn. Dept. of Education. I won't need the bond until my textbooks are accepted by the Dept. of Education as educational materials for their school districts. This probably won't occur until the latter part of 2006. I was turned down by the bonding company that I had used before due " to being bonded once by them in 2005" To say the least, I was quite shocked, for the bond was only for 2,000 and I did not know that it was difficult to get bonded twice utilizing the same company.

I have excellent credit plus own a home. I was planning on utilizing the SBA until I read on this forum that their rates were high in comparision to other companies. Any thoughts on this? Do your company do this type of bonding?

[Surety Guy]

Please tell me more about the contract for the $50,000 bond. I can not answer your questions regarding it until we have some more details on what it is for.

As for the $2,000 bond...Your previous agency probably had no interest in writing a small bond for an inactive account. A bond this small would actually cost the agency money to write for you. Our agency will only write bonds this small for active accounts. I suggest you post cash for this requirement if the state will accept it.

[marthaj]

Thank you! I will contact your office now to answer further questions pertaining to the bond.