Getting Started

Bonding FAQ's

• What is a surety bond?
A surety bond guarantees the faithful completion of a contract. In the event that the principal (you-the person performing the work) is not able to complete a job, the surety company will step in to complete the job and satisfy the obligee (the person, company, or entity to which you are contractually bound). Culbertson Bonding is an independent bond agency that lines up the principal with a surety company that we feel will be the best fit and provide you with the maximum bond credit.

• What type of bonding program do I qualify for?
Bonding limits and rates are determined by many factors. Some of the main determining factors are:
• The financial strength of your company
• Personal financial strength
• History
• What size of jobs have you successfully completed?
• Company reputation
When you submit your information to Culbertson Bonding for a quote, we do our own underwriting on your account before sending it off to a surety company. If changes need to be made or questions need to be asked, we get those out of the way before sending off your information. This ensures you’ll make a good first impression with the surety underwriters. We should be able to give you a close estimate of what you’ll qualify for before sending your information to the surety companies.

What we'll need
Please call our office if you have any questions on obtaining your bond and we’d be happy to walk you through this process!
To get a quote for your commercial bonds, please contact Heather at our office. If this is a construction bond for $1,000,000 or less, and you don’t need bonds often, please call our office and we’ll send you an “express” application.

For those looking to establish a bonding program, we’ll need the following:
• A completed Contractor’s Questionnaire (found in the “Forms Library” on our site)
• A completed Work in Progress Report (found under “Forms Library”)
• A completed Personal Financial Statement (found under “Forms Library”)
• Year-end financial statements on your company for the last 3 years.
      ° If you have CPA prepared statements, send those. If not, send us your in-house statements.
• Your most recent company financial statement (if you do quarterly or 6 month statements). In-house or CPA prepared.
• Personal and business tax returns for the last 3 years.
• A current personal and company bank statement and/or other asset verification