Bonding is the lifeblood for contractors who regularly pursue government projects. In order to even have the ability to turn in a bid on most government projects, contractors must post bid bonds. And then must provide performance & payment bonds upon award of the project before they can actually start work.
If you’re new to this arena of bonded work, the process for obtaining bonds and growing your capacity can seem daunting. Here are a few quick tips for establishing & growing your bonding capacity:
This article was written by Ben Dycus.
Ben has been with Houchens Insurance Group since 2008, when he started as an intern in our Lexington office. He became the Lexington surety department’s sales leader in 2012 and continues in this role today. He works with clients in various industries & situations where bonds may be needed, primarily in the construction industry. He understands the importance of the surety relationship in establishing, maintaining, and growing surety programs and accommodating individual bonds needs with the utmost efficiency, effectiveness, and proactiveness, supporting his clients and freeing them up to optimally pursue their business & personal goals.