We deliver more than just bonds. We provide comprehensive financial advice to our construction clients in order to guide them in the development and maintenance of surety programs.
Our financial expertise gives us an advantage over our competitors. Our strategy is not simply to forward your financial statements to the various surety companies. The truth is, anyone can do that. Instead, we invest significant time and resources to understand your company and its financial condition. Why? Because we know the concerns of surety underwriters and what they view as important when underwriting your bonding program. The result? We deliver to our clients the most attractive bond programs available in the marketplace and guide them in the direction they want to take their company.
Value added services? You bet. We provide a host of consulting services to our clients including:
- Indemnity, Contract and Form Analysis;
- Succession planning;
- Subcontractor risk program evaluation;
- Banking relationship consultation;
- Review and comment on financial structure.
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KNOWLEDGEAs your surety partner, we understand our clients' business. This enables us not only to be proactive in our consultation, but also to anticipate and satisfy the needs of our clients. We know finance. Our Department’s professionals not only have numerous years serving the Surety industry, but also significant financial and accounting expertise. As a result, you can be confident that our contractor’s financial condition is being reviewed in detail before presented. |
SERVICEWe understand that time is of the essence within the construction and have structured our company to provide fast responses and turn around on your bond requests. By developing client Service Timelines, you and the Surety will both know what we will do and when it will be done.
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SOLUTIONSWe know our clients, their needs, and their vision. With TIS as your partner, we will provide a Surety program that will facilitate responsible growth with financial success. We have positioned our company to represent the major surety companies and work diligently to create a surety program that will meet your company’s individual needs. We have been successful in tailoring programs to increase the bonding capacity by presenting a better options and communication to our client. |
Surety Underwriters and Surety Producers both know the negative impact of unexpected results and surprises. The constant partnering of principals and TIS providing insurance and suretyship avoids the disappointing surprise.
PARTNERING WITH CONTRACTORS
Consulting Services:
- Explanation of surety underwriting criteria;
- Identification and evaluation of surety markets;
- Assessment of surety underwriting strengths and weaknesses;
- Strategies to improve bonding capacity considering such factors as internal accounting and financial systems, financial reporting quality, balance sheet management, capital structure, subcontractor risk programs, collection practices, and banking relationship management.
Surety Agent:
- Quarterly meetings to review performance;
- Annual meetings prior to year-end to review internal financial performance and make any recommendations for year-end;
- Communication with surety;
- Coordination of annual meeting with surety;
- Maintaining a current file; and
- Indemnity, contract and form analysis.
Basic Information for Surety Submission:
- Current Contractor’s Questionnaire
- Past three fiscal year-end financial statements (five years if available). If current interim financial statement is available, please include.
- Current personal financial statements on all owners, partners, &/or stockholders, as of the same date of your most current year-end.
- Current bank letter of reference
- Resumes on active owners and key people.
- Copy of certificate of insurance (if not furnished by TIS)
- Current contract status report
Please feel free to download our forms below:
- Complete Underwriting Packet
- Bond Request Form
- Contract Bond Form
- Bank Letter
- Personal Financial Statement
- Work in Progress / Contract Status Form
- Resume Form
The above information should allow us to obtain the best results when dealing with the various bonding companies that we represent. We ask that you keep in mind “It is only with the proper tools that one can expect the best results”.
