Surety Corner: Best surety practices at the tendering stage
The world has evolved tremendously over the past 20 years and the surety world is no different. In the early 2000s, it was still common practice for contractors to send in their bond requests via fax machine. This meant that requests typically would come in at least a week prior to the tendering date and would be processed in sequence. Today, with the work from home reality, it has become commonplace for bond requests to be sent in only a day or two before the closing date and in some cases, even the morning of a closing.