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King Surety and Contractors Bonding &
Insurance Company are pleased to offer the new and innovative
"Under 50" Program for Performance Bonds under
$50,000. The " Under 50" Program is aimed at
start-up operations and smaller contractors who are infrequent
users of surety credit, an area traditionally ignored by many
bonding companies. This streamlined program requires very little paperwork on the part of the contractor and the underwriting criteria is based primarily on the personal credit history of the owners of the construction business. No high cost CPA prepared financial statements are necessary. |
Upon receipt of a completed application, we obtain the necessary credit report. If the applicant meets our credit score criteria and if the bonded obligation involves no unusual construction for the contractor or unusual or increased risk to the contractor or bonding company, we can usually issue the bonds within 24 hours of receipt of the application and properly completed Indemnity Agreement. An acceptable credit score is simply reflective of good personal payment habits and reasonable debt loads.
A short checklist " of what is needed:
- Complete the simple one page application that follows.
- Include a copy of the bond form if not an AIA, federal, public works or bonding company form.
- Provide a copy of the contract if this is a sub contract or private works contract.
- All owners and spouses must sign the short form General indemnity agreement - Click Here to review that form.
Toll Free 877-657-9050
EMAIL cking@kingsurety.com
Contractors Bonding and Insurance Company
U. S. Treasury Listed and rated A (Excellent) by A. M. Best Company
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