3 tips on getting bonded for HVAC construction
Tip No. 2: Collect outstanding invoices
Another great way to improve the cost of your HVAC market license bond is to collect those outstanding invoices.
When you apply for a HVAC construction bond, your financial statements may be requested. This means that you should get all of your paperwork organized and squared away. Make sure you have your outstanding invoices set aside.
The surety agency will want to see that you are profitable and not in a great deal of debt. This is because a great deal of financial burden suggests that you might not be able to follow through on your sheet metal works contracts, increasing your risk of triggering claims on your bond.