Program Details

Bond Limit: $1.5 million single / $3 million aggregate
Credit Score: No Minimum Score
Net Worth: No Minimum
Indemnity: Standard Indemnity
Cash Advances: Working Capital Advances up to 90% of Requisitions
Agent Commissions: Extremely Competitive and 100 % credit on follow-up final bonds and renewals.
States Available: CA, GA, HI, IL, LA,MD, MO, NJ, NY, PA, WA

Taking submissions immediately

Submission Information

Please contact us:

Joseph P. Filardo CPCU, ARM
jfilardo@breckis.com
503-946-8301

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No Credit Contract Surety

In today’s economic and credit environment, it is more critical than ever
that a surety gives full consideration to the character of a contractor.
In these hard times, a deserving contractor may find himself falling just
short credit-wise of obtaining bonding despite having the experience
and expertise to complete a project and to complete it well.
Breckenridge Insurance Services is here to help with its new No Credit
Contract Surety program for small to midsized contractors who may
not qualify in the standard markets. While the program requires funds
control, the contractor is given the opportunity to pursue contracts
they would not ordinarily qualify for due to the lack of bonding
capacity. It also potentially enables the contractor to benefit from
being in a position to negotiate better credit terms or discounts from
suppliers and subcontractors.

For you the surety agent,
you stand to grow your client base significantly. By providing
accessibility to bonding capacity to smaller, start up or financially
marginal contractors, you’re providing a platform for these
deserving clients to develop and graduate to the standard markets.