Frequently Asked Questions
Many contractors have questions about the bonding process. It’s our job to know the ins-and-outs of bonding after all. Here are some of the most common questions we receive.
How does Shorewest Surety establish a bond line of credit?
Surety companies require some background information for qualification, and although applicants are evaluated individually, the standard qualities looked at include:
What is your company’s track record?
Do you complete your projects in a timely manner, and do you have the ability to meet your obligations?
How experienced are the key people running the business?
What is the organization’s cash flow outlook? As your agent, we will review your books from the past 3 years to determine bond ability. We can provide a confidential, no cost or obligation back-up relationship to your existing bond provider, in the event that they ever fail to meet your needs or expectations.
In House Authority
We have in-house authority with the majority of the companies that we represent, allowing us to act quickly to meet your needs.
What fees do you charge?
At Shorewest Surety Services, Inc., we do not charge any fees. There are no bid bond fees, overnight mail fees or annual underwriting fees.
You are in Wisconsin … How can you service us when we are located in another state?
We meet face-to-face with all of the clients we work with, whether you are in Kansas City, Detroit or anywhere in between. With today’s technology and overnight mail, we service your account as well as if you were located in Racine, Wisconsin. We have a reference list of our clients located throughout the Midwest if service is a concern.
What is you turn-around time for a bond?
We can set you up with a new surety relationship in a little as 2 days from the time that we have gathered all of our underwriting information and met with you. After your account is established, all of our bond requests are executed the same day that we receive them, and sent via overnight carrier to your office.
What are your rates?
Our goal as your agent is to secure you with the best possible bond company, at the best rates available.