Performance Bonds

[Phillies]

Is there any way that we can get bid bond from $500,000 to $1,000,000? We both have excellent credit and have good net worths. Only problem is that we will be a brand new company. My partner has been in the business for 25 years. The average contracts run between 500K and 1000K.
Thanks.

[Admin]

Bonding companies are going to want to see you crawl before you walk. You will have to get some bonded work under your belt before a surety considers you for anything over $400K. A good place to start is the Fast Track Bond Program. It will allow you to obtain a bond line through your personal credit. Once you have successfully completed some bonded work, we can set up a Complete Contract Bond Line, provided your financials support doing so.