Surety Bonds
Cross Insurance has decades of experience servicing contractors big and small — giving us the complete understanding of construction contracts needed to help your company grow. We deal only with the most trusted sureties, and have a proven record of placing bonds for contractors new to bonded work…the most difficult bonds for hazardous work…contractors with inexperience on larger projects…and those with financial difficulties.

You can count on Cross Insurance for prompt service of the following surety bonds:

	•	Contract Surety Bond — Provides contract bonding through two bonds: one assuring contract performance and the other guaranteeing payment of labor and material bills for the work under agreement.
		-	Performance Bond — Protects the owner against defective workmanship or materials and assures prompt completion should the contractor default.
		-	Labor and Material Payment Bond — Guarantees subcontractors and suppliers will be paid for labor and materials associated with the bonded project.
	•	Court Bonds — Judicial Bonds are required of either a plaintiff or a defendant in a lawsuit to preserve the rights of the opposing litigant. Fiduciary Bonds are required of those who administer a trust under court supervision to guarantee faithful performance in the handling of assets entrusted to them.
	•	Fidelity Bonds — Protects employers from any loss of money or property due to employee fraud.
	•	License and Permit Bonds — Required by state, federal and municipal ordinances, these bonds guarantee project compliance with local codes.

Obtaining a Bond
In order to obtain the best bond program for your company, Cross works diligently to satisfy the surety that your company has the financial strength, experience, equipment and manpower to complete the project. As part of our efforts to receive a favorable decision, we will provide the surety with the following information:

	•	Contractor’s Questionnaire that provides a history of your company, including a list of the largest projects you’ve completed in the last five years, a work in progress schedule and a list of subcontractors/suppliers names for a reference check
	•	Owner and key employee resumes
	•	Evidence of a bank line of credit or a reference letter from a bank
	•	The business financial statement from the three previous years
	•	Personal financial statement of the owner(s)
	•	Copy of a recent Certificate of Insurance