By Will Chapman, Sr. Vice President of Surety Bonding
Selecting the right surety bond producer is a critical decision that can profoundly impact the success and growth of your business. A reliable surety bond agent goes beyond merely providing bonds; they become an invaluable long-term business advisor, consultant, matchmaker, and advocate for your company’s specific needs. Their role goes far beyond the transactional aspects, as they work tirelessly to understand your unique requirements and tailor solutions accordingly.
To ensure you find the ideal fit, consider asking pertinent questions in three key areas: experience and reputation, staff and service, and industry involvement and knowledge. By delving into these aspects, you can confidently identify a surety bond producer who will not only meet but exceed your expectations, bolstering your business endeavors with a strong foundation of trust and expertise.
Experience and Reputation:
- What is your experience and background?
- How long have you been a surety producer?
- What percentage of your business is construction?
- How many construction companies does your firm handle?
- Can you provide information for references?
- How many sureties do you represent?
- Who are your top five sureties by volume?
Staff and Service:
- How many of the firm’s employees are dedicated to surety?
- Will we have a dedicated account manager and/or account executive?
- What is the depth and continuity of the firm?
- What is the process for ordering surety bonds?
- What systems are utilized?
- What can we expect regarding service and turnaround time?
- Are you licensed in the states we operate in?
Industry Involvement and Knowledge:
- Which accounting, surety, and construction industry associations are you active in?
- Do you have regular interaction with local bankers, CPAs, and attorneys?
- Can you walk me through the surety underwriting process?
- How do you define the three C’s (i.e., character, capacity, and capital)?
- Can you discuss your experience with contracts and subcontracts?
- Can you discuss your knowledge of construction accounting?
Ready to secure your surety bonding needs with a trusted partner? Our team of experienced surety bond professionals are here to guide you through the process and tailor solutions to fit your organization’s specific requirements. Get in touch today [email protected] or call 412-223-1475.
Will Chapman is the Senior Vice President of Seubert’s Surety Bonding operation. He joined the agency in April of 2022 and has more than 18 years of industry experience. In his current role, Will is responsible for business development and nurturing customer relations, department production, and further expanding Seubert’s footprint.