BOND SOLUTIONS FOR ALL SURETY PROGRAMS
The Tailored Surety Program of Choice
POWERS Bond Department has solidified long-term relationships with the best surety bond carriers in the country for both general contractors and trade subcontractors. Our tailored surety programs allow our clients to efficiently execute their business plans. In addition to the standard surety solutions, our program offers many other industry-specific options like:
Construction Bonds
Bond Requirements:
- Certificate of Occupancy
- Contractor License (Required by Municipal State & Federal Obligees)
- Encroachment
- Maintenance
- Oil & Gas
- Out-of-State Contractor License
- Out-of-State Contractor Tax
- Reclamation
- Right of Way
- Road & Sewer
- Theft Guard - Fidelity
- Union Wage & Welfare Warranty
Environmental Bonds
Bond Requirements:
- Remediation Bonds/Contracts
- Oil and Gas Well Plugging and Exploration Bonds
- Land Closure Bonds
- Land Reclamation Bonds
Court Bonds
Bond Requirements:
- Administrator Bonds
- Guardian Bonds
- Executor Bonds
- Trustee Bonds
- Receiver Bonds
- Fiduciary & Probate Bonds
- Judicial Bonds- Plaintiffs' and Defendants' Bonds
- Garnishment Bonds
- Receiver (Equity Courts)
- (Counter) Replevin
- (Release of) Attachment
Public Officials Bonds
Bond Requirements:
- Animal Control & Other Public Officials (Both Elected & Appointed)
- Clerk
- Deputy/Sheriff
- Notary E&O
- Notary
- Superintendent
- Treasurer
Agriculture Bonds
Bond Requirements:
- Auctioneer (Livestock & Other)
- Dealer (Livestock , Grain, Commodities, produce, milk, fruit, veggies, etc.)
- Farm Labor Contractor (H-2A)
- Lease Guarantee
- Packers & Livestock ACT- Dealers/Market Agency
- Pesticides Application
- Public Weigher
- Scale Repair
- Seed Buyer
- Warehouse - Grain/Commodities (Cooperatives)
Auto Dealer Bonds
Bond Requirements:
- Body Shop & Garage
- Certificate of Title
- Mobile Home Dealer
- Motor Vehicle Dealer
- RV/Trailer/Motorcycle/Boat Dealer
- Salesperson
Healthcare Bonds
Bond requirements:
- Accountable care organization (ACOI/Medicare Shared Savings Program - Federal)
- Discount Medical Plan/ Provider Organization
- DMEPOS Competitive Bidding Program
- Durable Medical Equipment (DMEPOS)
- Patient Trust Fund
- Pharmacy Benefits Manager
- Prescription Drug Wholesaler
- Theft Guard - Fidelity
Non-Profit Bonds
Bond requirements:
- Private School (Cosmetology, Driving, Private, etc.)
- Professional Solicitor/Fund Raiser
- Theft Guard - Fidelity
Real Estate Bonds
Bond Requirements:
- Appraisal Management Company
- Check Seller
- Collection Agency
- Escrow Officer/Escrow License/Title Insurance Agent
- Financial Guarantee
- Insurance Broker/Producer/Adjuster
- Lost Instrument
- Money Transmitter
- Mortgage Broker/Originator/Lender
- Notary E&O
- Notary
- Real Estate Broker/Inspector
- Regulated Loan/Small Loan
- Medallion Signature Stamp Guarantee
- Theft Guard - Fidelity
- Third Party Administrator
Transportation Bonds
Bond Requirements:
- Airplane Dealer
- Car Wash
- Fuel Tax
- Highway-Use/Toll
- ICC/FMCSA Broker (BMC-84)
- Inspection Station
- Ocean Transportation Intermediary (NVOCC/Freight Forwarder)
- Over Axle & Over Weight Permit
- Oversize/Super Heavy Permit
- SDDC (Military Freight Forwarder)
- Transporter/Hauler (Fuel, Waste, Liquor, Tired)
- Yacht Broker
- Airline Reporting Corporation (Travel Agencies)
- Customs
Hospitatlity Bonds
Bond Requirements:
- Bonded Wine Cellar
- Breweer
- Liquor Retailer
- Lottery
- Sales Tax
- Theft Guard (Standard) - Fidelity
- Utility Deposit
Bond Program Request Form
What does the POWERS process look like?
Our process starts by listening to your needs and tailoring a surety program that allows you to efficiently execute your business plans.
Enter Basic Information
Start by telling us a little bit about your business so we know exactly how to help you insure it properly.
- Name
- Phone Number
- Years in Business
- Largest Job Completed
- Current Surety
Fill out the request form above. We look forward to speaking with you!
We Gather Your Info
Bond Information Request (Contractors Only)
- Last three year-end company financial statements (CPA prepared preferred but internal will suffice if no CPA statement is currently available)
- Most readily available interim balance sheet, income statement, AR aging (with explanation on anything older than 90 days) and job schedule (if prepared)**
- Most recent company & personal tax returns (first 5 pages of company return will suffice)
- Personal Financial Statement of Owner(s) and spouse
- Contractor Questionnaire & Executed Credit Authorization Form
- Financial statement of any other entity owned by owner and spouse
- Bank Reference Letter
- Current Certificate of Insurance
- Bond request form if there is an immediate need
Marketing & Negotiation
Next, we send your information to our carriers that are actively seeking companies like yours. Then, we compile our marketing efforts along with our recommendation for the best surety partner for your company.
We Safeguard and Serve
Once the program is established, we become your advocate and voice continuing to serve your business and maximizing the return on your bond program.
Why choose our agency for your Surety Bonds?
Unlike a generalist insurance agency, our Construction Services Unit understands your industry. We will utilize the expertise we have developed over the years to negotiate the best program for your business plan.
Industry Expert Referral Network
Looking for an accountant, banker, attorney, or qualified sub-contractor? Let us help. We serve those who serve your industry and have developed an extensive referral network of other professionals who work exclusively with contractors.
Sub-Contractor Prequal
Do you have a new sub-contractor you are interested in working with? Are you a sub-contractor interested in bidding to a new general contractor? Let us put our analysis tools to work for you and provide you with credit worthiness of the company you are thinking of working with.
Financial Analysis
Our construction services unit will provide a full financial analysis of your company prior to starting the marketing process. Answering the bond underwriter’s potential questions before they are asked is the goal. Let our years of experience be the proper introduction for your company’s first impression to the market place.
Peer Group Analysis
Ever wondered how your company financials compare to your competition? Powers can facilitate answering that question. Through our carrier partnerships we can provide you with real life apples to apples comparison of those you regularly compete against.
Project Document Review
Is your insurance compliant with the project you are about to bid? Don’t get stuck with added insurance cost after your bid is submitted. Let our Construction Services Unit Review your contracts for compliance from a bond and insurance standpoint prior to your bid.
Let us put our extensive experience to work for you.
Email: Bonds@powersinsurance.com
Call: 1-800-948-5100
Click the button below to get to the Bond Request Form.