Complicated Subdivision Bond ISSUED!

You may never have seen a case quite like this one…


  • Applicant needed a multi-million dollar maintenance bond for work installed under a subdivision development agreement.
  • The construction phase was already bonded by another surety and completed. They could not provide the required multi-million dollar maintenance bond.
  • Applicant provided a recent fiscal year-end statement with a negative $900,000 Net Worth and a $1 million+ Net Loss
  • “Compilation” financials for a bond over $3 million
  • The municipal obligee required a straight seven-year bond term for 100% of the construction amount.  (Rolling your eyes yet?)

How did FIA Surety put this together?

  • We verified the Compilation financials based on our “audit” of supporting schedules.
  • We restructured the Net Worth analysis by arranging the subordination of a major loan.
  • We worked with their CPA to evaluate the profitability of their current fiscal year.
  • We verified the warranty in the underlying construction contract.
  • We conducted a negotiation with the obligee resulting in a revised contractual obligation for the Principal, and they accepted a revised bond form written by our legal department – with a shorter term, and permitting non-renewal by FIA Surety.
  • We obtained the obligee’s written acceptance of the work in place.
  • We conducted a prior surety check with the incumbent carrier.

Complicated? Yes.

Difficult? Yes

Unusual? NO! Not for us. FIA Surety is known for getting deals done, even the hard ones.

If this is the level of service and expertise you want on Your bonding opportunities…. Call Us on the next one! 856-304-7348

FIA Surety / First Indemnity of America Insurance Company

2740 Rt. 10 West, Suite 205
Morris Plains, NJ 07950
Office: 973-541-3417

Providing A rated, T listed bonds in all states!

Surety: Jelly of the Month Club?

The Gift That Keeps Giving!

OK, the Jelly of the Month Club is AWESOME, but that’s not what we’re talking about…

A few of the actual comments from our 12/1/22 FIA SURETY “Free CE” Zoom webinar on Commercial and Miscellaneous Bonds:

  • As always, very informative. Thanks.
  • Great course!
  • Very informative
  • Interesting Course
  • Very good course! Thank you Steve
  • Thanks Steve, very informative!
  • Very helpful, thank you Steve!
  • Thank you Steve. I liked your course. Lots of info!
  • Great overview of Commercial Surety. Thanks Steve
  • Always learn something in your classes!
  • You’re very knowledgeable. Thanks!
  • You were very informative and patient. Thank you for the class.
  • Enjoyed the course, very informable.
  • As someone new to Surety this was very informative. Thank you
  • Very informative! Great course and great job.
  • Appreciate the detailed information in your courses, Steve – Thank you!

Our Free CE courses are not only the best / free place to learn about surety, they are also CONVENIENT (attend from home or office) and this gift keeps giving! The course info is all practical stuff you can use, boost your career, serve your clients better (maybe even make MORE MONEY!)

Face it, this is way better than jelly!

To date we have provided more than 2,000 hours of Free CE education worth over $25,000 in the regular market. AND we just rolled out our schedule for the first quarter of 2023. More great stuff you can use: Click for info!

Find out what you’re missing. Join us.

FIA Surety / First Indemnity of America Insurance Company
2740 Rt. 10 West, Suite 205
Morris Plains, NJ 07950
Office: 973-541-3417

A carrier providing A rated, T listed bonds in all states!