Surety Bond Professionals (781-559-0568), based in Natick, MA, and serving clients nationwide, has updated its federal construction bond services.
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The family-owned and operated company, founded in 2015, now offers a broad range of surety bond solutions for federal construction projects nationwide.
More information can be seen at https://www.suretybondprofessionals.com/bonding-federal-construction
By offering the most competitive terms, Surety Bond Professionals – SBP – helps federal contractors expand their surety programs to win more bids and increase their backlogs. Construction surety bonds – or contractor bonds – provide protection for the federal government, and by extension, American taxpayers, in the event of project failures or budget overruns.
The North American surety market is anticipated to reach almost $14 billion by the end of the decade. However, the federal contract construction market is subject to specific variables. For example, the Infrastructure Investment and Jobs Act of 2021 allocates $550 billion in new federal financing to transportation, water, and energy infrastructure. Projects funded by this Act should begin by the second half of 2022, some of which are available to bid on now. Similarly, the American Rescue Plan Act carries infrastructure components that are being rolled out in 2022.
Under the leadership of company president, Mark Leskanic, SBP has created a proprietary approach to surety bonding that taps into its extensive network of underwriters to ensure that its clients receive the best possible experience. As a bond-only agency, the firm works with all parties involved in the issuance of and securitization of necessary bonds to streamline the process for its clients.
Because construction is such a risky business – six years from now, one-half of all construction companies will be out of business – a public agency, which uses the low-bid system in awarding public works contracts, cannot always be certain the lowest bidder will be reliable. SBP has access to over 25 different surety markets and can always get the largest programs and most competitive terms for their contractors to be successful.
The bonds usually required for federal construction projects are performance bonds, payment bonds, bid bonds, and supply bonds – which together ensure satisfactory compliance with contractual and budgetary requirements. SBP is keenly aware of both the burdens and rewards of federal construction contracts and takes everyone’s interests into account – the surety, the owner, and the contractor – to find the best solutions for federal government contractors.
A satisfied client commented: “Can not recommend Surety Bond Professionals out of Natick MA enough. Went to them with bonding needs and they quickly set up a bond program increasing the ability to bid on more jobs, and jobs 3 times bigger than previously. SBP helped significantly increase revenue. Look forward to working with the SBP team for many years to come.”
Interested parties can learn more at https://www.suretybondprofessionals.com/bonding-federal-construction
Contact Info:
Name: Mark Leskanic
Email: Send Email
Organization: Surety Bond Professionals, Inc.
Address: 205 Union Street, Natick, MA 01760, United States
Phone: +1-781-559-0568
Website: https://www.suretybondprofessionals.com/
Release ID: 89074718
