Course Details

CONTRACT BONDS I

Obligees, Project Delivery Types, and Typical Bonds

 This course focuses on contract bonds and associated ancillary bonds that are important for your construction clients.   You will be introduced to the various obligees that may each have their own unique project delivery methods, bond forms and contract documents - that also carry different risks and exposures.   You will learn some basic items to look for when presented with a contract bond request - items that will help identify those risks to your client as well as your surety market and even help point out needed insurance coverage.   

Because contract bonds cannot be cancelled once issued, as an agent you want to reduce your liability exposures by furthering your understanding of this class of surety.   Gain the confidence to communicate bond approvals with conditions, or even to decline a bond, by using the strategies and recommendations outlined in this first of a 3-part series.   Each course stands on its own, but each will provide additional tips and resources to guide you as you strive to increase your client base in the construction industry.  Taking all three in the series will round out the information that an agency needs to establish a high-quality surety team and avoid liability exposures and ethical dilemmas.