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Surety Bonds
Bid Bonds | Contractor (P&P) | License/Permit | Miscellaneous Bonds | Business Planning
The best bonding representation at competitive rates.
HMS Insurance Associates is the largest provider of surety bonding for contractors in the Mid-Atlantic region representing some of the largest builders in the country. Additionally, we work with small emerging and mid-sized construction companies to maximize their bonding capabilities. Our experienced surety professionals strive to maintain strong business relationships with leading surety underwriters across the country.
Beyond providing needed bonds, our surety account team assists business owners in building strong, effective organizations that can operate effectively in today's competitive construction marketplace. Let us work with you to evaluate financing options, structure business continuity plans or offer expert advise on myriad business challenges.
Contact HMS to find out more about these surety services and products:
Bid Bonds
Provides financial assurance that the bid has been submitted in good faith and that the contractor intends to enter into a contract for the bid price and will provide the required performance and payment bonds.
Contractor (P&P)
A Performance Bond protects the owner from financial loss should the contractor fail to perform the contract in accordance with its terms and conditions. A payment bond guarantees that the contractor will pay certain subcontractors, laborers, and material suppliers associated with the project.
License/Permit
Regulatory bonds generally required by federal, state, or local municipalities in order to grant a license to engage in a particular business or the granting of a permit to exercise a particular privilege.
Miscellaneous Bonds
Various other bonds which may be required by law and as provided by statute, ordinance or regulation. Miscellaneous bonds can also include Court Bonds which are often filed to protect one litigant from an opposing litigant and must comply with statutory requirements.
Business Planning
As a surety professional, we pre-qualify a contractor for surety credit and work with the contractor on maximizing their bonding capacity by reviewing their track record, financial statements, use of other professionals (i.e. C.P.A., banker, lawyer); and offer recommendations and suggestions. Our goal is to become a trusted advisor of our client.
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