How to Get Your First Bond

Denise Gillin News

By Erik Mueller for Old Republic Surety

Start the process early
To ensure timely approval, begin the submission process well before the date you need the bond. A good rule of thumb is to allow 30 days for the process to be completed; if you can start earlier, so much the better. Allowing at least 30 days provides the underwriter with adequate time to review the information provided, ask follow-up questions and conduct a meeting with you and your agent.

Once you’ve been approved for a bid bond, performance and payment bonds may be issued if you are awarded the project.

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