Contractor Bonds, Bid and Performance Bonds, Subdivision bonds... we are King Of The Bonds.com

Attention California 'newbies', never ever licensed before. We have a carrier that will guarantee issue for you new guys and gals... call Steve Valencia at 888-299-1870 for an application. You must not have had a licence in any capacity prior Apply for this bond Today! Fax your completed application to 209-223-3227. email steve@athenainsurance.com Want to find a particular bond. Use this Search Site feature.
LOCAL, REGIONAL, NATIONAL AND INTERNATIONAL EXPOSURE... 2010 Promises to be and exciting year for Contractors despite a sluggish economy. AmericanContractorExchange.com is due to go Beta in 2010. Join for free while the site is still under construction. Submit comments and ideas. If your ideas is not already in our list and if we use your idea you will win a free contractor web site, web hosting and a banner ad for one full year! Submit your ideas to Steve@KingOfTheBonds.com This new era Contractor Exchange will have more 'bells & whistles than anything on the street and a fraction of the cost.

ECONOMY IMPACTS CONTRACTORS California sees some bonding companies non-renewing Contractor's license bonds as they review their credit scores. We have seen this trend even when the license bond was purchased for two and three years periods. WHAT DOES THIS MEAN? It means that you must go shopping for another bond if you are to keep you license in good standing. HOW DOES ATHENA INSURANCE AND FINANCIAL SERVICES HELP IN THESE TIMES? The broker Steve Valencia feels that having access to markets that accept various scores will help. In an interview with Steve he commented... " I do not like to send someone away just because he does not qualify for a preferred bond. I do my best to probe around the subject of credit and explain that Indemnity Companies have certain underwriting criteria. Some Companies have tighter credit criteria than others. We maintain a multi-tiered approach and begin with what I explain as a preferred bond rating price and the a price that depends on how badly the credit score has been affected.	HOW MUCH MORE WILL ANOTHER BOND COST? It depends on how much your credit score hasl been affected. When a Contractor's bond has been non-renewed due to a credit score re-evaluation we will go our next line of defense...and then the next. We have seen many scenarios regarding bonding and here are just a few. a. Full amount of the bond, in California this means it could be $12,500 but we rarely see this happen. b. Collateral: A certain sum of monies are collected above and beyond the price of the bond and it is held in trust. If there are no claims the trust is returned or applied the following year. Again based upon the credit and claims. If the credit improves and there are no claims there is a good chance that they again become eligible for a preferred bond. c. Co-signer: Since the bond, in part if based upon credit (other factors include years license and claims if any) The price is generally not preferred.
PERFORMANCE AND BID BONDS 101 During good times and even more so... during not so good times, we have seen a trend of Contractors that are moving into Project Quoting that require Bid & Performance Bonding. In just about every case involving the smaller Contractor's, they just do not know what to expect. They are not prepared for the onlsaught....read more...>

ECONOMY IMPACTS CONTRACTORS
California sees some bonding companies non-renewing Contractor's license bonds as they review their credit scores. We have seen this trend even when the license bond was purchased for two and three years periods.

WHAT DOES THIS MEAN?
It means that you must go shopping for another bond if you are to keep you license in good standing.

HOW DOES ATHENA INSURANCE AND FINANCIAL SERVICES HELP IN THESE TIMES?
The broker Steve Valencia feels that having access to markets that accept various scores will help. In an interview with Steve he commented... " I do not like to send someone away just because he does not qualify for a preferred bond. I do my best to probe around the subject of credit and explain that Indemnity Companies have certain underwriting criteria. Some Companies have tighter credit criteria than others. We maintain a multi-tiered approach and begin with what I explain as a preferred bond rating price and the a price that depends on how badly the credit score has been affected.

HOW MUCH MORE WILL ANOTHER BOND COST?
It depends on how much your credit score hasl been affected. When a Contractor's bond has been non-renewed due to a credit score re-evaluation we will go our next line of defense...and then the next. We have seen many scenarios regarding bonding and here are just a few.

a. Full amount of the bond, in California this means it could be $12,500 but we rarely see this happen.
b. Collateral: A certain sum of monies are collected above and beyond the price of the bond and it is held in trust. If there are no claims the trust is returned or applied the following year. Again based upon the credit and claims. If the credit improves and there are no claims there is a good chance that they again become eligible for a preferred bond.
c. Co-signer: Since the bond, in part if based upon credit (other factors include years license and claims if any) The price is generally not preferred.

PERFORMANCE AND BID BONDS 101
During good times and even more so... during not so good times, we have seen a trend of Contractors that are moving into Project Quoting that require Bid & Performance Bonding. In just about every case involving the smaller Contractor's, they just do not know what to expect. They are not prepared for the onlsaught....read more...>