How do I obtain the bond that I need?

Now that you’ve learned what these bonds cover and how they’re priced, you need to know how to get one. There are several pieces of information you’ll need to present to the surety bond company to obtain a performance bond, so it’s best to prepare them ahead of time.

When submitting your financial information, you’ll need to include work schedules, disclosures and complete notes, an income statement, cash flow statement, and balance sheet. The surety bond company will be looking for cash flow, earnings, and working assets. A construction CPA can help you present your business during the bond application process.