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Your agent is committed to great service and will assist
you in developing submission information. The items previously discussed are
required, but additional information could help to win surety support and
increase bonding capacity. Take a look at the following items and if any are
readily available, you might want to include them in your submission to us.
Your commitment to quality will likely win the attention of preferred surety
companies.
Letters of Recommendation
The more the better! Great trade and credit references are extremely
valuable and get a great deal of attention in the pre-qualification process.
If those who have done business with you in the past highly recommend the
surety company accommodate your needs, then it is more likely to happen.
Revolving Bank Line of Credit As mentioned in a
previous section, the revolving line of credit has helped contractors to
increase their bonding capacity substantially simply because it grants
access to funds not normally available to you during the course of a
project. An unsecured line or one obtained through long-term financing of
equipment or real estate are favored. Continuity
Agreement Bonding companies like to see a
continuity agreement in place naming certain individuals as manager in the
event of an owner's death or disablement. The continuity agreement provides
peace of mind in knowing that you have carefully planned for unforeseen
misfortune. Business Plan A
summary describing your company, internal and external factors that
influence success/failure, scope of work, growth and profit objectives.
Organizational Chart A visual representation of
your organization's structure and management/employee responsibilities.
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