As a leading bonding company, Bowen, Miclette & Britt understands that securing the right surety bond program is critical to your success. When you’re looking for a bonding company you can trust, our 95% client retention rate speaks for itself.
That’s why our goal is to develop a personal relationship with each client- to understand your business from top to bottom. With this partnership, we apply our knowledge and skill to help improve your operations. Our in-depth knowledge of how sureties evaluate your business and management puts us in a position to be able to negotiate with underwriters in order to secure the best possible terms and conditions for your surety program.
If you’re trying to get bonded quickly for a bid or contract requirement, the fastest path is to confirm the bond type and amount, then submit the minimum information underwriters need to approve the bond. Below are quick answers to the most common surety questions we see from Texas contractors and commercial businesses.
In addition to contract bonding, BMB has experience handling many different commercial bonds across various industries which helps us personalize our approach to your business and its needs. We recognize the importance of bonding for non-construction accounts, and have a deep network of surety partners to help facilitate any needs or questions you may have.
Think of a surety bond as a three-party guarantee that ensures a promise is kept. Every surety bond involves three key players:
If the principal fails to meet their obligation (for example, a contractor doesn’t finish a project), the obligee can file a claim against the bond. The surety will then investigate, and if the claim is valid, will cover the losses up to the full bond amount.
It’s important to remember that a surety bond is not traditional insurance. If the surety pays a claim, the principal is ultimately responsible for reimbursing the surety for the amount paid.
Getting the right surety bond can seem complex, but our experts are here to guide you through a straightforward process. Here are the typical steps:
One of the most common questions we get is about cost. It’s important to know that you do not pay the full amount of the bond. Instead, you pay a premium, which is a small percentage of the total bond amount.
The exact premium you’ll pay depends on several factors, making it unique to your situation:
Because your rate is personalized, the only way to know your exact cost is to get a quote. Our team can provide you with a no-obligation quote that reflects your specific qualifications and needs.
Surety bonds are typically sold through licensed surety brokers or agencies that work with approved surety carriers. Working with a broker gives you access to multiple surety markets and helps ensure the bond meets the obligee’s exact form and filing requirements.
A good bid bond provider is one that can issue the correct bond form quickly, explain how the bond impacts your broader surety program, and help you build bonding capacity over time. For contractors pursuing larger work, the best provider is often the one that pairs strong underwriting support with a long-term program strategy, not just a one-off bond.
Choosing a surety bond company is about more than just a transaction; it’s about partnership. At BMB, we believe our 95% client retention rate speaks for itself. Here’s why our clients choose to stay with us year after year:
1. We Are Your Advocate We don’t just find you a bond; we represent you. Our team has in-depth knowledge of how surety underwriters evaluate your business. We leverage this expertise to negotiate on your behalf, ensuring we secure the most favorable terms and the maximum bonding capacity possible for your company.
2. A Relationship Built on Your Success Your goals are our goals. We develop a personal relationship with every client to understand your business from the inside out. This allows us to provide strategic advice on everything from financial planning to business continuity, helping you not only meet your current bonding needs but also plan for future growth.
3. Nationwide Power with a Personal Touch We offer a complete range of contract, commercial, and specialty bonds in all 50 states, giving you the nationwide reach you require. But unlike large, impersonal institutions, we deliver this service with the dedicated, one-on-one attention of a trusted partner who is committed to your success.
We understand that in a competitive marketplace, being bonded can mean the difference in whether or not your company succeeds. We are staffed to deliver superior service, and we have the experience to handle your most involved and specialized bond needs. With a wide range of top rated carriers on our side, extensive market intelligence, and dedicated staff, BMB is committed to your growth and success. Our knowledge of surety bond requirements gives us unique knowledge to help your firm.
There are many ways to measure success, but the most satisfying is our 95 percent client retention rate. Our clients are committed to BMB because we are dedicated to the principles of customer service and professional leadership, always keeping in mind a bit of sound advice: It isn’t what we say about ourselves that matters most.
It’s what others say about us. If KNOWLEDGE, VISION, ACCOUNTABILITY and SERVICE are what you want in an insurance firm, partner with us.
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