It was right there all the time, and he didn’t know it!
These “gold nuggets” are missed commission opportunities within your current client base, and they’re NOT hard to find.
Some of your client’s activities must be guaranteed with a 1. Cash Bond, 2. Irrevocable Letter of Credit (ILOC) or 3. Surety Bond. Experts agree* that a surety bond is best. You can find these transactions that are not bonded, and offer to replace the existing security with a Site or Subdivision Bond. Here’s how:
- Search your clients for those who have added GL codes 91581, 91583 or 91585. These codes mean your client has added Subcontracting Exposures in connection with property development.
- Such projects may require a guarantee to the township for Public Improvements (work such as curbs, sidewalks, etc. your client is required to perform at their own expense.)
- If they used a Cash Bond or ILOC, they may unnecessarily tie up their cash – possibly for years! A Surety Bond can be filed to release the cash immediately, and YOU win a “Gold Nugget!“
Start panning, and call when we can help. When it comes to Site and Subdivision bonds, We’re Golden! Try us!
FIA Surety / First Indemnity of America Insurance Company
2740 Rt. 10 West, Suite 205
Morris Plains, NJ 07950
Visit us: www.fiagroup.com
Currently licensed in: NJ, PA, DE, MD, VA, NC, SC, WV, TN, FL, GA, AL, OK, TX
*International Risk Management Institute – About Site and Subdivision Bonds