Small and medium-sized enterprises (SMEs) and midcorps need surety – that’s a fact. In certain sectors, including engineering, machinery and construction, surety bonds are a contractual requirement.
Many SMEs and midcorps in these sectors reflexively turn to their bank for surety bonds. But this isn’t their only option. There are good reasons for these companies to choose an insurer for surety bonds instead – reasons that can save time, support your growing business, free up liquidity, and protect projects. Here are four: