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1) Bid Bond Request Form - Form will provide the surety with a basic overview of the current bond being requested. Most pertinent information include owner of the project, bid date, bid time, bid amount, completion time, warranty period and penalties for delay, etc.
2) Payment and Performance Bond Form - Form will provide the surety with a basic overview of the current bond being requested. Most pertinent information include contract amount, how was contract was awarded, completion time, warranty period and penalties for delay, etc.
3) Bid Results Form - Provide surety with information as to what the bids were for a particular project that was up for bid. It also should provide an explanation if the bid results show that the low bidder and the second low bidder were more than 10% part from each other's bid.
4) Contractor's Questionnaire - An application that provides a basic summary of the company, including information on the owners and key personnel of the company. Additional information includes history of projects completed, key suppliers, insurance providers, banking institutions, etc.
5) Work in Progress Schedule - Surety companies will want to verify that the contractor will be able to take on additional projects in addition to their current obligations. As a result surety companies will focus on the work in progress schedule to see what affects the additional contract will have. When filling out the WIP, it is important to make the distinction between projects that are bonded and projects that are un-bonded as some surety companies caluculate a contractor's backlog with just bonded projects, while other sureties count the total of all contracts; bonded and unbonded.
6) Personal Financial Statement - Document prepared for an individual using the Accrual Basis of accounting rather than the Cash Basis. A Statement of Financial Condition shows Assets at estimated current values listed by order of liquidity and maturity without classification as current and noncurrent. Business interests that constitute a large part of total assets should be shown separately from other investments. Only the person's interest (amount that the person is entitled to) as beneficial owner should be included when assets are jointly owned. Liabilities are shown by order of maturity without classification as current or noncurrent.