Surety Bonds

Get The Facts!

Surety Bonds in Govt Contracting Get The Facts!

Agenda
Introductions Presentation Q & A Please send your questions

Surety Bonds in Govt Contracting Get The Facts!

Introductions:
Fed Bid Speed B2G Software Mngt Tool Fierce Govt Govt IT Publication Joshua Etemadi Construction Bonds, Inc. Jennifer Schaus JS & Associates

Surety Bonds in Govt Contracting Get The Facts!

Fed Bid Speed
* Software program to manage B2G Opps * Single click integration with FBO.gov * Share notes & project manage RFPs

Surety Bonds in Govt Contracting Get The Facts!

Fierce Government
* * * * Free Govt Newsletter Agency News / Open Gov / Data Mngt Analysis / White Papers / Events In-depth & Quality = Differentiator

Surety Bonds in Govt Contracting Get The Facts!

Construction Bonds, Inc.
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Surety Bonds in Govt Contracting Get The Facts!

Jennifer Schaus & Associates
B2G Services and Events
* GSA Schedules * Federal Sales / Marketing * Subject Matter Experts on Various B2G Components B2G Govt Contractors Networking Event - March 19 http://JenniferSchaus3.eventbrite.com

Surety Bonds in Govt Contracting Get The Facts!

Surety Bonds in Govt Contracting Get The Facts!

Surety Bonds & Government Contracting

What is a Surety Bond anyway?

Surety Bonds in Govt Contracting Get The Facts!

Requirements & Opportunities * Required for Fed / State / Local $100k + * Larger, more profitable contracts * Only 20% contractors are bonded * Can be differentiator / endorsement

Surety Bonds in Govt Contracting Get The Facts!

3 Types of Contract Surety Bonds
Bid Bond
Submitted in good faith Contractor agrees to bid price Contractor submits Performance & Payment bond

Performance Bond
Protects owner/GC should contractor fail T/Cs Payment Bond Contractor will pay subs, laborers, material handlers

Surety Bonds in Govt Contracting Get The Facts!

Getting Started The Steps
Get A Bonding Agent * Obtain a Construction Oriented CPA * Pull Your Credit Report
*
* Review * Make Corrections * www.FTC.gov

Surety Bonds in Govt Contracting Get The Facts!

Bonding Advantages ---- The 3 Cs Character Integrity, Credit, Background Capacity Experience, History, Abilities Capital Cash is King! #4 Commitment - Indemnity

Surety Bonds in Govt Contracting Get The Facts!

Presenting Your Case
* Questionnaire, Resume, Business Plan, References
* Financial Statements Personal & Business * Work In Progress, Bank Statements * Project Documents * Bond Request * Breakdown * IFB / RFP * General Indemnity Agreement

Surety Bonds in Govt Contracting Get The Facts!

If Your Case Is Not Perfect, then what?
* Collateral

* Funds Administration * Small Business Administration (SBA)

Invisible Guarantee (90% w T-listed) New Firms, Bankruptcies, Bank LOC, etc.

* Private Sureties
Buyer Beware!

Surety Bonds in Govt Contracting Get The Facts!

How Long Does It Take?
* 1st submission to surety = 1 week * 2 - 3 days after established * 1st call to 1st bond = 5 6 months

TIP: Dont bid with a Cashiers Check!

Please send your questions here

Josh Etemadi Construction Bonds, Inc. 7039341000 www.SBAbonds.com

Jennifer Schaus & Associates JSchaus@JenniferSchaus.com www.JenniferSchaus.com +12023650598