Surety

A.G. Sadowski has a dedicated surety department staffed with former underwriters and experienced bond professionals. That allows us to address underwriting concerns and issues immediately and provide complete submissions that provide confidence in the completeness of submissions to our surety partners.  Building long term relationship with our surety partners fosters trust and confidence. Our bond department is able to issue bond quickly when necessary and has the experience to develop creative solutions to complex underwriting issues.

Our bond department underwrites each of the financial statements we receive before they are delivered to underwriting. That enables us to not only identify potential errors in the statement before underwriters’ review and develop unfair opinions about the quality of internal accounting, but also identify key concerns and underwriting issues that we can address and defuse. That enables us to control the underwriting narrative. In addition, this helps streamline the process for the underwriter, enabling them to get from reviewing documents to providing an approval quicker.

Negotiating with Bond Underwriters requires that the producer understand bond underwriting. At A.G. Sadowski, we have many decades surety underwriting experience that enables us to have an informed and respectful dialogue with our underwriters to reach a favorable outcome for our mutual client. Expertise is also the difference in knowing which information is pertinent to the bond approval and being able to communicate that clearly and effectively with the underwriters.

Accuracy and precision are important in bond execution as bond errors can result in the rejection of the entire bid. All bonds executed in our office are double checked by management prior to release. We also review the Owner bond forms themselves. For example, The Westgate project’s bond forms were heavily edited by the owner resulting in potentially hazardous language. The ability to recognize and mitigate onerous language in bond forms can prevent potentially disastrous terms. Bond underwriters do review bond forms, but our experience is that occurs on a limited basis. Over the years, we have uncovered several bond form issues that underwriting had missed.

Our agency has expertise across not only contract bonds, but commercial bonds including mechanic lien bonds, license bonds, financial guarantee bonds, permit bonds, completion and subdivision bonds.