Bonding with GDI Insurance and Insco Dico Group

Written by on 7/20/2010 9:30 PM . It has 0 Comments.

GDI Teams Up With Insco Dico Bonding Group

Making your life easier!  Insco Dico Bonding offers many types of bonds.

Everything from Bid and Performance Bonding, Subdivision Bonds to a host of quick and easy online bonds such as;

All Terrain Vehicle Bond
Auctioneer Auction Company Bond
City of Chic Excavation Permit Bond
City of Fresno Street Work and Excavation Bond
City of Los Angeles Sewer Storm Drain Bond
Commercial Coach Bond
Contractors License Bond
County of Sacramento Encroachment Permit Bond
Customer Service Bonds
Defective Title Bond
Driving School Owner Bond
Employment Agency Bond
Employment Counseling Service Bond
Guide License Bond
Insurance Adjuster Bond
Job Listing Service Bond
Mobile Home Bond
Truck Camper or Floating Home Bond
Notary Bond
Nurses Registry Bond
Process Servers Bond
Professional Photocopier Bond
Public Insurance Adjuster Bond
Sales Tax Bond
Structural Pest Control Bond
Tax Preparer Bond
Traffic Violator School Owner Bond
Vehicle Verifier Bond
Waste Tire Hauler Bond
Yacht and Ship Broker Bond

Construction Bonding Prequalification of The Contractor.

Bonding companies are also referred to as Sureties.

Sureties are able to accept the risk of contractor failure based on the results of a thorough, rigorous, and professional process in which sureties prequalify the contractor.  This prequalification process is an in depth looks at the contractors business operations’.   Before issuing a bond the surety company must be fully satisfied, among other criteria, that the contractor has;

  • Good references and reputation
  • The ability to meet current and future obligations
  • The experience matching the contract requirements
  • The necessary equipment to do the work or the ability to obtain it.
  • The financial strength to support the desired work program
  • An excellent credit history
  • An established bank relationship and line of credit

Before issuing a bond, the surety company must be satisfied that the contractor runs a well managed, profitable enterprise, keeps promises, deals fairly, and performs obligations in a timely manner.

Because of all this GDI always recommends starting the bonding process early with complete applications and financial records to start with.  Because of the nature of bonding it does take more effort, and companies are very conservative by nature.

The Bid Bond assures that the bid has been submitted in good faith and that the contractor will enter into the contract at the price bid and provides the required performance and payment bond.

The Performance Bond protects the owner from financial loss should the contractor fail to perform the contract in accordance with its terms and conditions.

The Payment Bond assures that the contractor will pay specified subcontractors, laborers, and material suppliers on the project.

The Insco Dico Group teaming up with GDI has many great options.  The above are just a few of the.  Please call us to discuss your companies bonding needs.  888-991-2929

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