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  • Next Step Application - Surety Bond Source

Get Next Step Application - Surety Bond Source

Next Step Scan and email completed and signed application to gstanley craneagency.com or fax to 314-206-4174 Contract surety program with total bond needs of $1,000,000 or less at any given time.

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How to fill out the Next Step Application - Surety Bond Source online

The Next Step Application - Surety Bond Source is essential for individuals and businesses seeking surety bonds for construction projects. This guide provides a detailed overview of how to accurately complete the form online, ensuring a smooth application process.

Follow the steps to fill out the Next Step Application comfortably and effectively.

  1. Press the ‘Get Form’ button to access the application form and open it in your preferred editor.
  2. Begin by completing the contractor information section. Fill in your business's legal name, address, and contact information, including phone and email. Indicate the years the business has been operating and, if applicable, provide incorporation details.
  3. In the personal information section, enter the details of the indemnitors. This includes their names, social security numbers, percentages of ownership, and titles. Ensure that all the information is accurate and complete.
  4. Provide the project/job information by detailing the bond type, bid or contract amount, bid date, and project description. Attach relevant documents, such as bid invitations or contracts, as needed.
  5. Complete the largest contracts information section by listing the largest contracts previously completed, including details such as contract amounts, types of work, and project locations.
  6. Review the General Indemnity Agreement carefully. All indemnitors must sign this agreement. Ensure that signatures are provided where required, and check for any necessary notarization.
  7. Once all sections are completed, save changes to the document. You can then download, print, or share the form as needed. Finally, scan and email the completed application to gstanley@craneagency.com or fax it to 314-206-4174.

Complete your application form online today to ensure prompt processing of your surety bond.

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To fill it out correctly, though, you need to understand what's being asked. Name of the principal and surety. ... Amount of the bond. ... Statute or legal requirement. ... Cancellation clause. ... Aggregate liability clause. ... Bond number and effective date. ... Signatures. ... Some bonds can be issued immediately.

Surety underwriting is built on three Cs: character, capital and capacity.

The Three C's of Surety Bond Underwriting and the Increasing Importance of Character. Before issuing a bond, a surety will evaluate a company using the three C's: (1) capital, (2) capacity, and (3) character.

The bond process happens fairly quick, usually 25-45 minutes and the time it takes to get the person released after the signing of the bond, it is usually about 1-4 hours.

A number of these factors fall under what the Surety industry calls “The Three C's”; Character, Capacity, and Capital. All three of these are important to the underwriting process. The principal needs to exhibit the Character, Capacity, and Capital to qualify for surety credit.

A surety bond application is a form required by the surety carrier. It provides the basic information needed about the bond and the principal for the approval process. It also often serves as the legal contract between the surety carrier and the principal.

They evaluate credit and payment history, income and assets available for a down payment and categorize their findings as the Three C's: Capacity, Credit and Collateral.

A surety bond is a promise to be liable for the debt, default, or failure of another. It is a three-party contract by which one party (the surety) guarantees the performance or obligations of a second party (the principal) to a third party (the obligee).

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Privacy Notice
Legal Hub
Content Takedown Policy
Bug Bounty Program
About Us
Help Portal
Legal Resources
Blog
Affiliates
Contact Us
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate WorkFlow
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232