Financial Statements: Are the key to obtaining Bonds? 0
Need a bid or performance bond for a construction project? The first question is, “Let’s take a look at the fiscal year-end financial statements.” Then the insurer finds something wrong with it and boom! You’re dead!
What’s going on here? It is true that the surety only make money when they issue bonds? So why are they so reluctant? Contractors must keep in mind that bonding companies walk a fine line between profit and loss.
Contractors must keep in mind that bonding companies walk a fine line between profit and loss.
Easy obvious piece subscription information to review is the year-end financial statements. This document provides a vision of the company’s currency position. This shows the extent to which the administration has failed to attract sufficient income. Show lending practices of the past and indicates the quality of the clientele of the company. It is easy to calculate, easy access, an essential component of subscription – but it is the key to getting bonded? Read the rest of this entry →