Why You Need a Letter of Bondability for Your Business
Securing a letter of bondability is often the first real hurdle you'll face when trying to scale your construction or service business and go after those bigger, more lucrative contracts. It's essentially a vote of confidence from a surety company, telling a project owner that you're financially stable enough to be bonded for a specific project or a total amount of work. While it isn't an actual bond itself, it's the document that gets you in the door. ...