Bonding 101
Welcome
After finishing the video included below, you will be given access to its accompanying presentation and granted a CCB certificate showing the credit hours earned from completing this course. You must watch the video in full to qualify for the credit. Thank you for learning with PBDG!
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Class Description
In this class you will uncover the basic understanding of a surety bond and the role it plays in your construction business. Business owners can expect to learn the following:
- The different types of construction bonds
- Difference between bonds and insurance
- What is a surety bond
- Who are the parties to a surety bond
- When are surety bonds required
- How does a contractor get surety bonds
- What a surety underwriter looks at in order to extend surety credit.
Business owners will walk away with a basic understanding of important types of bonds in construction, the underwriting process, and how to make the best presentation possible to the surety underwriter to get a high bonding limit.
Class Level
This is a beginner level class: Beginner level firms are either a startup business or in ramp up mode where your business is picking up, you have at least one active contract, hired your first few employees and you are working on your business fulltime.
Instructor(s): Instructed by: Keith Yam, Surety Director at KPD Insurance and Risk Solutions
Keith has worked for KPD Insurance for the last 13.5 years. He graduated from University of Oregon with a bachelor’s degree in finance.
