Representatives say the newly available surety bonds offer generous coverage, making it easier for contractors to bid on government projects. With access to 25 surety markets, Surety Bond Professionals offer comprehensive bond solutions that cover all price points.
More information about Surety Bond Professionals and subdivision bonds is available at https://www.suretybondprofessionals.com/subdivision-site-improvement-bonds/
To make securing subdivision bonds (also called site improvement bonds) seamless, the company allows customers to not only get quotes but also apply for bonds online. It utilizes sliding scale rates, ensuring competitive pricing regardless of the level of coverage sought.
A subdivision bond serves as a developer’s guarantee that public improvement projects will be completed in accordance with a local municipality’s guidelines. If the developer fails to deliver on the project for whatever reason, the surety company will pay the obligee (often a municipality), thus protecting its financial interests.
For this reason, subdivision or site improvement surety has become mandatory for government projects. Surety Bond Professionals helps contractors by granting them access to subdivision bond programs from the country’s most trusted surety companies.
BENEFICIAL FOR SURETY BOND PROGRAM HOLDERS
Getting a subdivision bond offers key benefits to construction/development firms as well. Having such a surety program lends credibility to a company and makes it easier to win contracts with the government. More importantly, they can avoid financial insolvency if they cannot finish a project due to unforeseen factors, such as supply constraints or failure to secure permits.
Customers can secure subdivision bonds for any public work they wish to undertake, including street paving, sewer improvement, power line installation, and landscaping. The cost is usually 3% of the total contract price for the site improvement project.
A spokesperson says: “We know that your firm has bigger plans and ambitions, which is why we offer subdivision and site improvement surety programs. With ample coverage, you can confidently bid on public projects you couldn’t before. If you need a catalyst for your business’ growth, our team will be more than happy to help you find the right surety program.”
Interested parties may visit https://www.suretybondprofessionals.com/contact-us/ if they need further details about the company and its products.
Surety Bond Professionals, Inc.
205 Union Street
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Daily Scotland News journalist was involved in the writing and production of this article.