A Tale of Two Opportunities: Financing of Risk Through Subcontract Bonds

surety-7-30-19-two-opportunitiesLast month I met with two contractors where subcontract bonds were a central topic. The first was a paper general contractor, meaning they administered the construction contract with the project owner and planned the project construction schedule. The execution of the work would be subcontracted to trade contractors. Two gentlemen had recently formed the company after having worked for larger companies and run some very large jobs in the past. They were key contributing employees but had never had an ownership stake in the companies for which they worked. Their enthusiasm for the opportunity before them was infectious. I was enthused with the opportunity as well since the contractor represented new business to Old Republic with a promising future.