NASBP Tips for Small Contractors Seeking Surety Credit - Show Good Character Addressing Bad Press

Surety bond producers can help contractors qualify for surety credit. A contractor will need to be forthcoming and explain to the surety bond producer the bad press the construction company may have received. By doing so, it helps the bond producer present the small contractor’s best case to the surety company. This video is an excerpt from a free, online course where individuals can learn more about surety bonding. Find the free, online course here: www.contractorb....
Kim Brown owns a small construction company. Her woman-owned company is a general contractor for residential units and a subcontractor on government construction projects. About 10 years ago Kim had a difficult client who served her company with a lawsuit claiming Kim’s construction company had misrepresented the services it provided. She provided her bond producer all the details and fully disclosed how she had to hire an attorney and how she fought the lawsuit in court and won. Even though the newspaper never followed up with a story about how she won the lawsuit, the bond producer thanked Kim for her disclosure and the documentation showing that her company had won the court case. The bond producer said the situation showed how Kim demonstrated good character.
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