Letter of Bondability

What does a letter of bondability do?

This letter provides evidence that the contractor has a surety relationship. It might say how long that relationship has existed; give the financial rating and T-listing of the surety and give general parameters of the limits of what kind of bonding the contractor would be considered for.

What a letter of bondability doesn't do.

A letter of bondability does NOT offer any kind of prequalification for a particular job or make any promise that the contractor would be able to get a bond for a particular job.

Finally, you have to remember that bondability letters are non-binding. Still, it can be very beneficial for all parties. It tells your client that your company has been approved previously. This will increase the likelihood that they're going to choose your company as their contractor.

A BF Bond letter of bondability.

We welcome the opportunity to write these letters for our clients and continue to use our standard format. For owners who desire the opportunity to solicit a bid bond, a letter of bondability may give you an edge over your competition.

This letter will contain several details. It can tell the client the rating of the bond company. It confirms that the bond company is approved and that the bond will be valid.

In most cases, you should be able to obtain a bondability letter in a matter of minutes. And, you can guarantee that it is going to enhance your chances of getting the job.