Posted by OldRepublicSurety
Surety underwriters ask a lot of questions. They do so to fully understand your business to better support your project opportunities. Part of the process is determining you qualify for the size and scope of the projects for which you require bonds. If your organization cannot carry out the construction contract, your surety is obligated to carry out the project according to the construction contract terms. This two-part article will familiarize you with bond terms, contract issues that arise in typical construction projects, and explain why surety underwriters ask so many questions in the surety bond application process.