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.
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.
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.
How to Get a Freight Broker Bond FAST!
Applying for a Freight Broker Bond is not difficult, as we’ve simplified the process for you into easy to understand steps, which can be found on our Freight Broker Bond application.
Finally, if you would like to speak to a live customer service representative to walk you through the process of applying and getting approved for a Freight Broker bond today, we are here to answer all questions.
Our professionals are committed to easing the process for you. call us at (800) 921-1008, Live Chat with us below or contact our Bond Manager at Bonds@BFBond.com