Assetinsure has a detailed and methodical approach to underwriting surety bonds.
Key factors in this process include:
- A well-developed business
- A solid track record
- Evidence of professional financial and operational management
- Demonstrated capital retention within business
- Technical ability to deliver on all contractual requirements
- Control over exposure to existing projects
Clear documentation of these factors, as itemised in our application documents, will ensure that bond facilities are approved in a timely fashion.
As a quick guide, a bond facility is suitable for firms meeting these criteria:
- Company must turn over at least $50 Million per annum to be considered
- Must have a minimum net tangible worth of $5 Million
- Positive cash flow
- Positive working capital
- At least 3 years of continuous profitability
- Operating for at least 3 years