Presentation on theme: "Understanding Surety Bonds & Expanding Your Company’s Bond Program Scott Mahorsky, President."— Presentation transcript:
Understanding Surety Bonds & Expanding Your Company’s Bond Program Scott Mahorsky, President
Background Bond Only Surety Agency Operating Nationally 5 Locations (Philadelphia, Pittsburgh, Buffalo, Norfolk & Charleston) Over 100 years of Combined Surety Experience Understanding of “Standard” & Federal Construction Market $1.75 Billion in Construction Contracts in 2014 0 Losses since inception of MGI
Why is this Critical? If your company can increase Revenue only $5M per year because of a larger/superior bond program at 10% Gross Profit, the result is $500,000.
Basics What is a surety bond? What are the different types of bonds? Where do you get a bond?
How do I qualify for a bond program? Character Financial Strength
Ratios Working Capital Equity Cost to Complete Total Bond Program
Quality of Agent Makes a Difference X 10 X 20 X 15
Additional Qualifying Factors Bank Line of Credit Experience Work History Past Performance Evaluations/CCASS/CPARS Resumes of Key Personnel Awards
How to Maximize Your Bond Program Obtain an Elite Bond Agency Find a Quality Construction Accountant & Secure Solid Internal Accounting Systems Target High Profit Low Competition Projects IDIQ, MATOC, MACC, SATOC Build a Team Construct a Long Range Plan/Strategy
Questions Come Visit Us at Our Booth for Additional Questions