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Surety Bonds

Surety bonds are an agreement between three parties – a Principal (contractor), an Oblige (project owner), and a Surety (bonding company). They provide financial security and construction assurance on building and construction projects.

The agreement assures the Oblige that the project will be built per the plans and specifications, that costs to perform the project will be paid, and that certain subcontractors and suppliers will be paid.

Obtaining Surety Bonds

Insure Forward will guide you through the bonding process. Here are some of the items needed from the contractor:

  • Organizational chart of key employees
  • Resumés of the contractor and key employees
  • Business plan of type of work, growth, territory, profits
  • List of largest completed jobs and gross profit earned
  • Subcontractor and supplier references
  • Bank letter indicating bank line of credit
  • Recommendations from owners, architects, and engineers
  • CPA-reviewed financial statements, including job schedules
Bond One
Bond Two
Each policy is different, and limitations apply.

Meet Your Insurance Team

Camden Caraveau
Camden Caraveau
Insurance Sales Agent
Chris Tofsrud
Chris Tofsrud
Insurance Sales Agent
Evan Wilcox
Evan Wilcox, CIC
Insurance Sales Agent
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