The National Association of Surety Bond Producers (NASBP) recently launched a website, SuretyLearn.org, dedicated to helping small and emerging contractors better understand the bonding process.
The website provides reading materials and other resources that help contractors determine both the qualifications and steps pertinent to getting the performance and bid bonds necessary to take their business to the next level.
The website also offers a $25 informational course titled Understanding Contract Surety Bonding: An Orientation Course for Small Contractors. According to the course home page, the class aims to teach contractors with content in the following seven chapters:
- Chapter 1: What Is Contract Surety?
- Chapter 2: What the Surety Looks for in a Contractor (or How Do I Become Bondable?)
- Chapter 3: Role of the Professional Surety Bond Producer
- Chapter 4: Establishing Relationships with Other Professional Service Providers—Bankers and Attorneys
- Chapter 5: Construction Procurement and the Roles of Those Involved
- Chapter 6: Governmental and Other Resources for Small Construction Companies
- Chapter 7 Basics of Contract Bond Claims
“Some contractors spend years trying to become bonded,” Joshua Etemadi of Construction Bonds Inc. said. “Sometimes it’s just a matter of access and just getting that first ‘soft touch.’”
To better understand surety bonds, check out SuretyBonds.com’s information about construction and contract surety bonds.