4th Quarter Financial Planning-Keeping up good relations with your Bond Company: CARES ACT Update…Act Now For numerous contractors 2020 has been a year like no other…a vast understatement to say the least. As we are now entering the 4thQ of 2020 part of your financial planning process with your CPA should include a discussion about how to treat PPP monies in your financial statement for those who have received these loans. There is a path to partial or full forgiveness of these loans that your CPA and Banker can guide you through. The benefit of having these loans forgiven is.
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Read MoreMetayer Bonding Associates
Call us for Professional Surety Bond Services for Construction Companies throughout Connecticut and across the Northeast!
Metayer Bonding Associates is the Largest Privately Owned Surety-Only Agency in the Northeast United States. We offer Surety Bonds for Construction Companies throughout the Northeast with a heavy concentration of clients in Connecticut, Massachusetts, Rhode Island, New York, and New Jersey. Our experience and reputation in the Bonding Industry, along with our Strong Bond Company Relationships, allows us to get more accomplished for our clients. We take great pride in the quality of service provided to our clients. Prompt, professional handling of our clients’ needs is the priority and foundation of our company and why we have maintained an annual Client Retention Level of 99%.
How can you be completely confident that you have the Most Effective Bond Program available in the marketplace today?
Simply put…by choosing the most Reputable and Effective Bond Agency to represent your needs.
How do you do this? By inquiring within the industry focusing in on:
Make certain the Owner of the firm is actively involved and well respected in the industry.
They have a vested interest because their name is on the door and their reputation is at stake.
Make certain they have an extensive background in the Surety Industry.
Have they spent time on the Bond Company side in Local Office and HO leadership positions? This is uniquely invaluable and critical as they will have acquired the rare inside interworking knowledge of how to most effectively manage the process which will ultimately maximize all aspects of your Bond Program.
Relationships are everything in business.
A unique characteristic of a solid Bond Agent is one who has also developed close personal relationships with the key people at each of the Bond Companies. This occurs by the Bond Agent having spent time on the Bond Company side in Local and HO positions and has known and worked alongside many of the Bond Company Local and Home Office staffs in the business today for years.
Make certain that they have a large base of Surety Company Appointments.
This is important because if your operations experience change, positive or negative, they always have several options to keep you covered. Critical to this equation, going beyond just having appointments with Bond Companies, is that they must have long term, time tested, trusted relationships with each. Call each of their Bond Companies direct for a reference on them.These qualities of your Bond Agent will always get you the benefit of the doubt in any situation to meet your needs…the added earned advantage and trust in tough situations. A Bond Agent with losses, legal issues, Bond Company terminations, and who have a poor reputation, no matter the name on the door or their history, will inhibit your ability to get all of your needs met. These are all yellow flags to watch out for.
In House Underwriting Authority provided by the Bond Companies to the Bond Agency.
A testimony to the Bond Companies trust in them. This also provides quick turnaround time on bond issuance and approval.
Power of Attorney to execute all bonds in the Bond Agency’s office.
This is critical to maintaining control over the delivery of all bonds in-house.
Your Overall Bonding Capacity will be Maximized by Our Proactive Representation
Our core principles of honesty, integrity and hard work have established Metayer Bonding Associates as one of the leading and most respected Surety Agencies in the entire Northeast. As a result, we are able to get more accomplished for our clients. We represent 18 of the most prominent Bond Companies in the country, which provides us with complete market coverage to secure the most effective bond programs available in the industry today.
Your Bond Program will be Handled Flawlessly Allowing You More Time to Spend on Generating Profits
Your time is valuable and so is ours. We keep the day-to-day managing of your bond program streamlined. Our top-notch staff each has in excess of 20 years of experience in the business and is well respected in the Surety Industry. No contractor is perfect all of the time. We remain proactive at all times to smooth out the wrinkles as they occur in order to keep you in excellent standing with your Bond Company.
Superior Advice and Counsel to Assist You in All Facets of Your Business
With our significant involvement in the Construction Industry, we have numerous friends in related disciplines that you will always have access to. These include CPAs, Attorneys, Bankers, Insurance Agents, and Contractors. Don’t hesitate to contact us for more information. We look forward to working with… and for you.
News & Updates
Why is September 30 a critical date for Self-Insured Massachusetts Companies?
If you are a self-insured employer seeking an exemption from making Paid Family and Medical Leave (PFML)contributions, then you are required to provide a Surety Bond to guarantee benefits are provided to your employees. September 30, is a significant date for PFML bonds, as it signifies the end of the bond period for 2019. Why do some organizations in MA need a PFML bond? Instead of paying into the MA PFML fund, private organizations that are self-insured have the option to bond their PFML program. The paid leave is administered by the Family and Employment Security Trust Fund and requires.
Keeping up Good Relations with your Bond Company
For contractors with calendar-year fiscal year-ends, the first quarter of each year is generally the time your financial statements will be published.
