Starke Bond Kit
Since surety is a credit relationship, establishing surety credit is similar to applying for a loan. We file paperwork on your behalf to the surety companies we represent, and they in turn determine whether your company is able to financially complete the project as required by your client.
You should be aware that the more information we have with the initial submission, the better position we are in to provide a positive and timely response. In order to make this process as simple as possible, we have developed this bond kit. However, you may also submit other forms if they contain the same information.
You can either download the entire Starke Bond Kit or download the individual forms below. Either way, please provide us with the following information:
- Contractor questionnaire – (downloadable form) This document should be completed and signed by an owner or officer of the company requesting bonding.
- Fiscal Year End Company Financial Statements – These statements should be prepared by an independent CPA as of their most current and previous two fiscal years. You have a much better chance of being accepted by a surety company if you give us quality financial information. Most surety companies prefer audited or reviewed financial reports prepared under GAAP on the percentage of completion method of revenue recognition. Proper footnotes and schedules are also very important.
- Current interim Financial Statement – If available, please include a copy of your current interim financial statement. An in-house generated statement is acceptable.
- Aging Schedule of Accounts Receivable
- Bank/Credit Reference Form (downloadable form) – This form will outline your credit standing with the bank.
- Personal Financial Statement (downloadable form) – This financial statement should be prepared for all owners concurrent with the most current fiscal year end. Complete and sign this document.
- Resumes – (downloadable form) Resumes should be provided on the key people in your business.
- Plan of Continuity – Continuity should include details on the ownership and control of the company should any of the current major owners retire or be unable to perform their duties.
- Current Insurance Certificate
- Work-in-Progress and Completed Job Schedules – (downloadable form) This information should be provided concurrent with any financial presentation (preferably included in the financial presentation) and current with the submission of the account. We will continue to need this information on a quarterly basis.
- Bond Request Form (downloadable form) – If there is a specific job that will require bonding, please complete this form.
- Builders Risk Form (downloadable form)
If we can be of any assistance, please let us know. We will work diligently on your behalf and hope to earn your confidence.