Birth and death.
Ebb and flow.
The world has a natural rhythm that affects all things, including the surety business.
So here it is, The Last Hurrah. We always knew it would come someday, and now it’s here. It is the annual cycle we experience in the world of Bonding. The final big event of the year is approaching after which it’s all holidays, gift shopping, family visits, food and not too much business getting done.
The big day is just a couple of weeks off: September 30th. It is the last day of the federal government’s fiscal year.
For government contracting officers, this day means “use it or lose it.” Federal funds that have been earmarked for certain projects must be used by 9/30, or the funds (heaven forbid!) go back to the treasury department. Every year this results in a rush of contract awards on or about 9/30. Some of our clients have received contract awards as late as 11:45 pm on the night of September 30. Crazy!
How does all this affect YOU? It could mean there will be an urgent need for performance bonds. There is always a deadline by which they must be filed. Contractors and their surety agents must be prepared to respond.
Enter FIA Surety. Our surety department specializes in Bid and Performance Bonds for contractors. We can help by providing Subcontract Bonds on federal projects. We support a wide range of construction trades, and a variety of underwriting situations.
Don’t be depressed about the Last Hurrah. It can be a great end to a successful year and besides, you’ll get another one next year!
FIA Surety is a NJ based bonding company (carrier) that has specialized in Site, Subdivision, Bid and Performance Bonds since 1979 – we’re good at it! Call us with your next one.
Steve Golia, Marketing Mgr.: 856-304-7348
First Indemnity of America Ins. Co.
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