(function(i,s,o,g,r,a,m){i['GoogleAnalyticsObject']=r;i[r]=i[r]||function(){ (i[r].q=i[r].q||[]).push(arguments)},i[r].l=1*new Date();a=s.createElement(o), m=s.getElementsByTagName(o)[0];a.async=1;a.src=g;m.parentNode.insertBefore(a,m) })(window,document,'script','https://www.google-analytics.com/analytics.js','ga'); ga('create', 'UA-99108651-1', 'auto'); ga('send', 'pageview'); surety bonds Skip to main content

5 Truths To Outlast The Coronavirus Outbreak | Joseph Prince

<iframe width="480" height="270" src="https://www.youtube.com/embed/0_a-ffZoDsg?clip=
Post a Comment

surety bonds

2017 Hurricane Recovery: Get information about disaster assistance, or find out how you can help.
Close
Handshake

Surety bonds

The Small Business Administration (SBA) guarantees bid, performance, and payment surety bonds issued by certain surety companies.

The SBA guarantees surety bonds

Surety bonds help small businesses win contracts by providing the customer with a guarantee that the work will be completed. Many public and private contracts require surety bonds, which are offered by surety companies. The SBA guarantees surety bonds for certain surety companies, which allows the companies to offer surety bonds to small businesses that might not meet the criteria for other sureties.

How the SBA Surety Bond Program works

Businessman and contract
Surety bonds are requested
Some contracts require that the business doing the work be properly bonded.
Business and contract
Surety partners with business
Authorized surety companies provide surety bonds to businesses that meet their qualifications.
Contract
The SBA guarantees
The SBA guarantees surety bonds for private surety companies, so more small businesses can qualify.
Handshake
Small businesses benefit
Small businesses get SBA-guaranteed surety bonds so they can get to work.

Contract or commercial bonds

Depending on the the type of work, a business may be required to obtain a contract bond or a commercial bond.

The right surety bond for the project

Some contracts require surety bonds that cover specific situations. The SBA guarantees surety bonds that cover several major categories of work.
Gavel
Bid
Ensures full payment and performance bonding from the contract bidder.
Cash in hand
Payment
Ensures full payment to the suppliers and subcontractors.
Checklist and magnifying glass
Performance
Ensures full completion of a contract by small business.
Wrench and gears
Ancillary
Ensures completion of requirements outside of performance or payment, such as maintenance.

Bond Guarantee Fee

All performance and payment bond guarantees require small businesses to pay the SBA a fee of .729% of the contract price. If for some reason the bond is cancelled or not issued, the SBA will return the guarantee fee. The SBA does not charge a fee for bid bond guarantees.

Eligibility

Determine your small business’s level of eligibility before obtaining a surety bond. Does your business meet the following requirements?
Storefront
Be a small business
Qualify as a small business according to the SBA’s size standards.
Contract
Have a small contract
Up to $6.5 million for non-federal contracts and up to $10 million for federal contracts.
Checklist
Pass evaluation
Meet the surety company’s credit, capacity, and character requirements.

Contact a surety bond agency

Check the database of surety agencies that offer SBA-guranteed bonds. Contact a surety agency in your state to get started with the application process.
Select...
dropdown arrow

Accredited Surety Agency LLC

610-849-0772

Acrisure, LLC dba Smith Manus

502-238-1228

Agents of Insurance

605-348-7788

Alamo Surety Bonds

210-930-5550

Allstar Surety Company, Inc.

303-694-4404

Alter Surety Group, Inc.

305-517-3798

American Surety Bonds Agency, LLC

404-486-2355

Anglo-Puerto Rican Insurance Corporation

787-474-4900

Assurance Brokers, LTD

618-692-9800
Showing  1  - 9  of  135

Need help? Get free business counseling.

Comments

Post a Comment

Popular posts from this blog

Club Chaos Inc. does stand, it does earn profits, its annual meeting did occur by the date necessary. A few things to get out of the way. 1.  Gay =  " I am not" nor may I be punished or abused or have my life threatened or destroyed for it, especially if I am not. Written By: The Editors of Encyclopædia Britannica Last Updated: 9-12-2017 Homosexuality , sex ual interest in and attraction to members of one’s own sex. The term gay is frequently used as a synonym for homosexual; female homosexuality is often referred to as lesbianism . At different times and in different cultures , homosexual behaviour has been variously approved of, tolerated, punished, and banned. Homosexuality was not uncommon in ancient Greece and Rome , and the relationships between adult and adolescent males in particular have become a chief focus of Western classicists in recent years. Judeo-Christian as well as Muslim cultures have generally perceived homosexual ...
Post a Comment
Read more

Stay Legally compliant

https://www.sba.gov/business-guide/manage-your-business/stay-legally-compliant   Stay legally compliant Keep your business compliant with state and federal business laws. Your legal responsibilities will depend on your business and location. Content For your own records: internal requirements Ongoing state filing requirements Ongoing federal filing requirements Maintain licenses, permits, and recertification For your own records: internal requirements You’ll need to meet external and internal business compliance requirements. Most external requirements involve filing paperwork or paying taxes with state or federal governments. Internal business requirements are for your own record keeping. You should document your compliance with internal requirements closely with company records. You might need them when you decide to  sell your business  or if a legal action is taken against your business. Requirements by business structu...
Post a Comment
Read more