FAQ's
- Application Process
We are here to provide those who need bonds. The general qualifications for a bond include the submission of the application and financials. The application process depends on whether you’re looking for a contract or commercial bond. All of our bond applications can be filled out and sent to us via fax or email. Our response time to all of your bonding needs is within 24-48 hours. Please contact us so we can help you with any questions you may have.
- New Applicant (Contract)
The application process differs for Contract Bonds because we offer different programs for Contractors of all sizes. Below are a few examples of the programs we offer:
- 3x5 - This is best for the small businesses
- SBA - This program has guidelines more flexible than a standard market
Based on your exact qualifications and needs, we always need the following forms:
- Application
- Credit Release
- Bank Reference Letter
- Resumes
- Business Plan
- Work on Hand (WOH)
- Personal / Company Financials
- Certificate of Insurance
Also, for any kind of Bid, Performance, Payment or Maintenance Bond please fill out CCI Surety, Inc’s Bond Request Form.
- New Applicant (Commercial)
We generally only need the following forms:
- Application
- Personal / Company Financials
- Copy of the Bond Form
- 3x5/SBA/Escrow Programs
Our 3x5, SBA (Small Business Association) and Escrow programs are some sources that we can utilize to help you get your bond written. Below are the definitions of our programs:
- 3x5: Bonds in this program can be written as follows- single bonds (bid, payment and performance) up to $300,000 and provide an aggregate backlog of $500,000.
- SBA: Small Business Administration (SBA) is a program designed specifically to help support the small businesses. They have a Bond Guarantee Program which guarantees a contractors bond up to 80%-90%.
- Escrow: The Escrow Process is where a third party manages the Funds Control of individual projects.
Please contact us to speak with an underwriter to see if you meet the qualifications for one of these programs.
- Why should I choose CCI?
CCI has experienced staff that is ready to assist you. We represent various markets that can handle standard and specialty bonding. With our representation of those markets comes our in-house underwriting authority which allows us to respond to your needs in a timely manner. We have the latest tools for specialty bonding to assist you in obtaining a bond, including Fund Control/Escrow, SBA, collateral and 3rd party indemnity to name a few.
- How do I obtain a bond from CCI Surety, Inc.?
Call us toll free at our Home Office (Minnesota) at (866) 317-3294 or at our Satellite Office (Florida) at (877) 320-6947 and we will help you obtain a bond that meets your needs.
- How long does it take to obtain a bond from CCI Surety, Inc.?
Our response time is always within 24 hours. If we receive everything we need from you we can often obtain the bond that very same day.
- How are contractors who need a Surety Bond Evaluated?
The Surety industry evaluates three basic factors, known as the three "C's". They are:
- Character - Does the Principal's record suggest good character, that he or she will be faithful to their obligations?
- Capacity - Does the Principal have the skill, experience and knowledge necessary to perform his or her obligations?
- Capital - Does the Principal have the financial wherewithal to support or finance the completion of the project?
- In which states can CCI provide bonds?
We can provide bonds in all 50 states.
- What is the limit capacity of CCI's Surety Bonds?
CCI can handle work programs to $30 Million. We have the ability to offer programs of $10 million/$30 million.
