3 Cs You Need to Know to Understand Surety Bonds

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By Michael D. Lapre, Construction Business Owner

When a construction company seeks a bond for a project, there are a number of factors examined by the underwriter before the bond is given. These factors help the surety company determine whether or not offering you a surety bond is a wise investment for their organization, as well as whether it would benefit your organization.

When you understand these factors, you can better prepare your organization for the application process and possibly increase the likelihood of it going your way. The various factors examined by underwriters can be divided into three categories, which are referred to as the three Cs of underwriting surety bonds. 

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