Required Documentaion for Bonding
The following is necessary information needed by Bouchard Insurance to submit your request for bonding to our Sureties:
- The last three fiscal year-end CPA prepared financial statements.
- A current interim or “in-house” financial statement including a balance sheet and profit and loss statement with current schedules such as, bank reconciliations for proof of cash and accounts receivable, and accounts payable aging reports.
- The last three years of filed U.S. Corporate or Partnership Income Tax Returns.
- Personal financial statements of all stockholders. If the organization is a partnership, please provide personal financial statements of each partner.
- A current status of a work on hand report on a percentage of completion basis and a current status of a completed contracts report for the fiscal year ending.
- Personal resumes of all “key personnel”.
- History of the corporation. This should include the date of incorporation of the organization, starting capital, major accomplishments and any other general information that would be helpful in understanding your business.
- Certificate of Liability Insurance
- Completed Contractor’s Questionnaire
- Completed Personal Financial Statement
- A bank letter of credit and reference. This letter should indicate the amount or credit that the bank is willing to extend and on what basis.
- Letters of reference from owners, architects, engineers, suppliers, subcontractors, etc.
- Copies of any Key Man Life Insurance Policies and a summary of a continuity business plan
