Case Study: Strength in Steel

 The Challenge: A Skilled Contractor Without a Surety Relationship

A California-based rebar contractor, specializing in reinforced steel construction, successfully negotiated a contract but faced a significant challenge—they had never established a surety relationship and now needed Performance and Payment Bonds to move forward with the project. Without these bonds, they risked losing the contract they had worked hard to secure.

 Referred to JRG Surety by an industry contact, the contractor needed guidance on navigating the surety process for the first time. JRG Surety carefully assessed the contractor’s experience, financial strength, and project scope to find the best surety partner. By leveraging its extensive network, JRG Surety matched the contractor with a top-tier surety company willing to issue the necessary bonds.

 Not only did JRG Surety successfully secure the Performance and Payment Bonds, but by presenting a strong underwriting case, they also negotiated a 50% reduction in the surety rate. This saved the contractor thousands of dollars on the current project and positioned them for lower bond costs on future jobs. With a trusted surety relationship now in place, the contractor is well-equipped to take on larger, more competitive projects with confidence.

Need performance and payment bonds at the best possible rate? Contact JRG Surety today!