ECDI Virtual Workshop: Surety Bonding for Small Contractors

Date and Time for this Past Event

• Tuesday, Mar 8, 2022  4 p.m.

Location

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Details

The ins and outs of surety bonds and how to use them to grow your business.

About this event

Speakers

Jeff Cose, SVP – Head of National Bond Center – Nationwide

Julie Alleyne – Vice President, Policy and General Counsel with The Surety & Fidelity Association of America (SFAA)

Tamara Murray – Underwriting Marketing Specialist, Office of Surety Guarantees, SBA

 

Guest

Dan Moncrief – Owner, McDaniel’s Construction Corp., Inc. & National Association of Minority Contractors (NAMC) President

Surety bonds are required in many state and local municipalities to operate your business. In order to secure government contracts, bid, performance, and payment bonds are often required. If growing your business includes more public work, surety bonds will often be a requirement.

Get Ready Now: The Bipartisan Infrastructure Law – an investment in our nation’s communities – urban and rural – strengthening our supply chains by making long overdue improvements creating jobs that can be accessed by all workers, especially those from underserved communities. Bonding ensures project completion!

Join us to learn about what surety bonds are, how to get qualified for one and where to get one, even if your credit history isn't perfect. Receive access to free educational resources from the Surety and Fidelity Association of America (SFAA) and the National Association of Surety Bond Producers (NASBP).

Surety Bond Introduction

• What is a surety bond?
• What are the different types of surety bonds?
• How do surety companies qualify contractors?
• What is an indemnity agreement?
• What if a claim is filed on my bond?

SBA Surety Bond Guarantee Program

• How to obtain surety bonds if I’m not ready for standard market
• Quick program for small bonds
• Limits available for standard program

How to Get Qualified for Surety Bonds

• How to find a bond agent
• Role of the bond agent
• Other important partnerships (banker, attorney, etc.)