Surety Bond - Construction Bond Alternative - Bid Bonds - Financial Guarantee - Performance Guarantees

Surety Bond - Construction Bond Alternative
IBCS

Surety Bond - Construction Bond Alternative

Securing a Construction Bond in today's marketplace is tough. Since September 11th, many corporate sureties have gone out of business, leaving small-to-mid-size construction companies to fend for themselves. Construction companies need alternatives to traditional Construction Bond methods. Many find alternatives to Surety Bonds as their risk management solution.

The Scarborough Bond & Guarantee Program

That's where we can help. We've been on the front-lines, alongside state and local governments to pass the House Bill 169. The purpose of this bill is to help construction companies obtain Construction Bond solutions. IBCS offers risk management alternatives to traditional Construction Bonding methods in the form of Individual Sureties.

As an authorized Risk Manager for the Scarborough Bond & Guarantee Program, we fill the much needed niche for mid-range companies seeking bid bonds and financial guarantees. Learn more about exciting new construction bond related laws.

Surety Bond - Construction Bond Alternative

Contact IBCS today for a full-report regarding our Construction Bonding Alternatives.

IBCS is not a Construction Bond Broker. We are a risk management company that monitors contracts backed by Individual Surety Bonds issued through the Scarborough Bond Program. Individual Surety Bonds are an alternative to the limited availability of corporate surety bonds for some contractors. We are expediting the way Construction Bonds are issued with our extremely efficient construction performance bond and bid bond alternative solutions.

Strength and Certainty: Each Individual Surety Bond is backed by the commitment of the Scarborough Bond and Guarantee Program which has a proven history of success over thousands of projects. In addition, Wells Fargo Bank Northwest N.A., in its capacity as indenture trustee under an indenture trust agreement, has been granted, and holds, a first priority perfected security interest in assets which are available to back the bonds, and at our direction Wells Fargo issues an Irrevocable Trust Receipt to each bond beneficiary for a portion of those assets. The beneficiary may direct the trustee to sell the assets allocated to it in the event of an uncured surety default. Please refer to a copy of the indenture trust agreement for a complete description of this part of the program.

Choose from any of the following construction related services:

Beyond the construction bond industry, we also handle general business financial guarantees for a wide range of industries and commodities.

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    Disclaimer: Program not available in all states. Please contact us for further details.

    This page is not meant to provide conclusive legal definitions of construction surety bonds. It is only to serve as a reference by which you may conduct further research into the legalities of construction surety bonds. The contents of this web site are subject to change / revision without notice.

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    Phone: 434-974-9777

Surety Bond - Construction Bond Alternative - Bid Bonds - Financial Guarantee - Performance Guarantees