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 RFP’s

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. Xxx Your Logo

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

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/C’s 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 *

Surety Bonds in Govt Contracting Get The Facts! Bonding Advantages ---- The 3 “C’s” 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? * 1 st submission to surety = 1 week * days after established * 1 st call to 1 st bond = 5 – 6 months TIP: Don’t bid with a Cashiers Check!

Please send your questions here 

Jennifer Schaus & Associates – – – Josh Etemadi Construction Bonds, Inc – –