Purchasing Surety Bonding Online? Be Careful.
November 8, 2017
Merchants Bonding CompanyTM and the surety industry took center stage in Construction Executive's 15th annual contractor's guide to surety bonding. The special surety section shares the aging American infrastructure, the generation gap in the surety and construction industries, and advice for choosing the best surety agent for your construction company. Find these articles and more in Construction Executive's November issue.
Merchants' Vice President of Marketing Therese Wielage gave her insight (pg 57) on what contractors should know about purchasing surety bonding online.
The relationship a construction company has with its professional surety agent and underwriting company is one that can add great value. To secure surety bonding online without the benefit of surety professionals is rolling the dice on quality and value.
A construction firm using online tools should be sure it is working with a reputable company. Top sureties provide easy-to-use online tools, as well as provide expertise on things like onerous provisions in the contracts. Even online, they will promote a close relationship with a trusted team of financial advisers, including a surety agent, underwriter and construction accountant. This team will help a construction company navigate the complexities, protect itself from risks, and help the company with smart growth that is profitable, sustainable and compliant with the ever-changing regulatory climate.
To be pointed to reputable resources that provide easy-to-use online tools, look to the memberships of The Surety & Fidelity Association of America and the National Association of Surety Bond Producers.