
Submit by Email Submit by Email Gene Lilly Surety Bonds Gene Lilly Surety Bonds 735 South 56th Street PO Box 30553 Lincoln, NE 68510 Lincoln, NE 68503 (402) 4757700 pH (402) 4757700 pH (402) 4755043.
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How to fill out the NE Gene Lilly Surety Bonds Contractor Questionnaire Form online
Completing the NE Gene Lilly Surety Bonds Contractor Questionnaire Form online can be a straightforward process with the right guidance. This user-friendly guide will walk you through each section of the form, ensuring that you have all the information you need at your fingertips.
Follow the steps to complete your Contractor Questionnaire Form seamlessly.
- Press the ‘Get Form’ button to access the NE Gene Lilly Surety Bonds Contractor Questionnaire Form and open it in your preferred digital editor.
- Begin with section one, 'General Information.' Fill out the complete name of your entity, date, address, phone number, city, state, zip code, fax number, contact person's name, and their title.
- Proceed to section two, 'Company Structure.' Here, provide your contracting specialty, the year you started in business, area of operation, fiscal year end, type of organization, and list the corporate officers' details that include name, social security number, age, position, percentage owned, and their spouse's name.
- In section three, 'Company Background,' answer the questions regarding any buy/sell agreements, bankruptcy petitions, current litigation, total employees, and union status.
- Fill out section four for 'Owner Background' if required, and move to section five, 'Previous Bonding Information.' Write the name of your previous bonding company and the reason for leaving.
- In section six, 'Company Information,' detail the percentage of work normally performed for government agencies and private owners, the percentage of work subcontracted, and whether bonds are required from subcontractors.
- For section seven, 'Company Accounting Information,' provide the contact person for accounting, their phone number, your CPA firm's name, how frequently financial statements are prepared, and whether you have an accountant on staff.
- Advance to section eight, 'Company Banking Information,' by listing the contact person, their phone number, name of your bank, address, amount of line of credit, and expiration date.
- In section nine, 'Largest Contracts,' list three of your largest contracts, including job name, project contact, owner, contract price, completion date, and whether the job was bonded.
- Complete section ten, 'Supplier Reference,' by listing three major suppliers, their company names, contact names, and phone numbers.
- For section eleven, 'Sub-contractor/Contractor References,' provide information for three subcontractors or contractors you do business with, including their company names, contact names, job names, and phone numbers.
- In section twelve, 'Engineer or Architect References,' list three engineers or architects you have worked with, including their firm names, contact names, job names, and phone numbers.
- Finally, complete the 'Completed By' section with your title and the date. Make sure to attach additional sheets if necessary.
- After filling out all sections, ensure that all information is accurate. Save your changes, and you have the option to download, print, or share the form as needed.
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Get answers to your most pressing questions about US Legal Forms API.
What is the difference between a payment bond and a bid bond?
Protections: Bid bonds and payment bonds are both obtained by a project contractor, but protect different groups. Bid bonds provide legal and financial protection for project owners against changing terms, while payment bonds provide financial protection to the workers and suppliers on a project.
Who pays for the bid bond?
There are three parties to a bid bond: the principal, the obligee, and the surety. The principal is the contractor purchasing the bond, while the obligee is the project owner or GC protected by the bond. The surety company is the company providing the bid bond.
What percentage should a bid bond be?
The amount depends on the bid packet. It varies from 5-15 percent of the bid price. It means if the contractor fails to fulfill the bid term, the project owner can claim this much amount from the surety provider. The contractor can take cover for all bid bonds required in a year.
How does a bid bond work?
The bid bond guarantees the developer that if the principle is awarded the job, he or she will fulfill the terms of the contract including obtaining any other bond requirements such as a performance bond and a payment bond.
What is a 10% bid bond?
The bid percentage (usually five or ten percent 5, 10%) is forfeited if you don't accept the job. The Bid Bond prequalifies the principal and provides the necessary security to the owner or general contractor, or “obligee,” guaranteeing that the principal will enter into the contract, if it is awarded.
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