Los Angeles Federal P&P Bond Agency For Construction, Online Application Update

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Surety Bond Professionals (781-559-0568) has updated their application services for federal bonds.

With the construction industry back in full swing, Business Wire has published a report about the projected growth of non-residential construction in the next five years. The data shows that contracts worth over 1.4 trillion dollars will be open for bidding in 2024 and 2025 alone. As such, Surety Bond Professionals has updated their services to make it easier for small and medium size contractors to find the right surety agency to provide them with the federal construction bonds they need.

For more information, visit https://www.suretybondprofessionals.com

Through their online application process, the agency can help contractors secure any of the four types of federal construction bonds: performance, payment, bid, and supply.

Under the Miller Act, performance and payment bonds are required for all federal projects worth over $100,000 – with supply and bid bonds sometimes required for specific projects. Aside from being necessary for bidding on public projects, bonds also help contractors demonstrate a good reputation and can improve their chances of winning the bid even when a bond is not required, says Surety Bond Professionals.

With access to over 25 federal-friendly surety markets, Surety Bond Professionals can match contractors with the right bonding companies for their size, financial situation, and specialization. They offer a variety of surety programs with flexible payment terms, and will work as a mediator between construction and bonding companies – helping to maintain a good working relationship.

The agency uses a proprietary process that minimizes the paperwork contractors must submit when applying for a bond. Some of the required paperwork includes detailed financial documents, a list of projects they have completed, and their credit score.

“Surety Bond Professionals specializes in putting together the largest, most competitive bond programs for federal government contractors. This allows their contractors to grow revenue and win more federal opportunities. Contact us now for a free assessment to improve your bond program today,” a representative said.

Interested parties who want to know more about federal construction bonds may visit https://www.suretybondprofessionals.com

Source: http://newswire.net/newsroom/pr/00000000-https-www-suretybondprofessionals-com.html