Surety bonds are basically insurance products. So it’s not surprising that most surety bond agencies come from an insurance background.
Does that matter?
It very well might.
For example, you are under deadline pressure on a job, and you start rattling off to your broker about a bond for a six phase project for the DEP for an aeration flow system for the New Creek Plant. And then your broker asks, ‘What is a DEP?’
At that point, you sense that you may be in trouble. Yes, you could explain it in excruiating detail, but you don’t have the time to, because the bid is due and you’re busy lining up subcontractors for the job. Even worse, the broker’s lack of familiarity with the heavy construction projects that are your bread and butter can lead to costly mistakes.
For a contractor bidding on government contracts and heavy construction, your bonding level is a sign of financial strength and project capability. To say ‘I’m bonded up to $50 million’ tells potential customers that you are qualified to handle the type of job you’re bidding on, and helps qualify you as a bidder.
Certainly, The Blaise Group is a bonding agency, and we have strong relationships with top-rated carriers who underwrite surety bonds. But we also come from a contracting background. One of the key principals of the firm is an architectural graduate from Pratt Institute, and others have deep roots in construction industry.
Our professional background enables us to really understand your needs, without a lot of explanation. It also means that we are less likely to makes mistakes because we didn’t understand the nuances of your project, and we can see issues that you might otherwise miss. When it comes to construction, we speak your language.
To discuss your bonding needs, or for assistance with your next project, please call us at (914) 667-7700 x122.