Description

This module provides a curriculum introduction. It explains how to navigate through the curriculum and use its interactive features. At the end of the module, you will take a self-assessment. The self-assessment helps you determine which path through the curriculum may be right for your business.

At the end of this module, you will be able to:

• Navigate through the curriculum and use its interactive features
• Determine which path to take through the curriculum

To register for and start the Introduction and Path Recommendation module.

1.     Create an account or, if you already have an account, log in.

2.     Register for the module.

3.     To start the module, press its dark blue View button.

4.     Press the yellow View Course button.

5.     The module will launch in a pop-up window. If it does not launch for you, please change your browser settings to allow pop-ups from learn.nasbp.org.

Description

This learning path is for contractors who are new to surety bonding and need or want a traditional bond program. It is a comprehensive overview of surety bonding that explains:

• The purpose and benefits of surety bonds
• The traditional and transactional surety bond application processes
• What you need to provide during the traditional application process
• How sureties review your business
• Tips for growing your business and your team

It includes checklists and other documents that you can use as you prepare to apply for a traditional surety bond program.

Objectives

After completing the modules in this learning path, you will be able to:

• Explain benefits of surety bonds and recognize how surety bonds could help your business
• Define the term surety bond, types of surety bonds and application processes
• Identify roles of surety bond professionals and be ready to find a surety bond producer
• Describe the two parts of the traditional surety bond underwriting process
• Prepare documents typically required for traditional application and underwriting process
• Define the Three C’s (Character, Capacity, and Capital) of underwriting
  • Identify sources that sureties use to determine character and take steps to improve how a surety views your character
  • Provide appropriate capacity-related documentation to your surety bond producer
  • Anticipate and prepare the documents the surety and the surety bond producer will request to analyze your capital
  • Take steps to increase your business’ capacity and capital

• Describe the factors surety companies evaluate for each bonded job in your surety bond program
• Complete a bond request form for a specific project
• Create an advisory team that will help position your business for growth

Description

This learning path is for contractors who have obtained transactional surety bonds periodically in the past, and now want to establish a traditional surety bond program. This path skips the basics of surety bonding and focuses on helping you and your business prepare for the traditional surety bond application and underwriting process. It explains:

• The traditional surety bonding application process
• What you need to provide during the traditional application process
• How sureties review your business and your jobs during the underwriting process
• Tips for growing your business and your team

It includes checklists and other documents that you can use as you prepare to apply for a traditional surety bond program.

Objectives

After completing the modules in this learning path, you will be able to:

• Describe two parts of the traditional surety bond underwriting process
• Prepare documents typically required for the traditional application and underwriting process

• Define the Three C’s (Character, Capacity, and Capital) of underwriting
  • Identify sources that sureties use to determine character and take steps to improve how a surety views your character
  • Provide appropriate capacity-related documentation to your surety bond producer
  • Anticipate and prepare the documents the surety and surety bond producer will request to analyze your capital
  • Take steps to increase your business’ capacity and capital

• Describe the factors surety companies evaluate for each job you seek to add to your surety bond program
• Complete a bond request form for a specific project
• Create an advisory team that will help position your business for growth

Description

This learning path is for contractors who are new to bonding who want and may qualify for credit-based transactional surety bonds. It provides you with an introduction to surety bonding with a focus on transactional surety bonds or small bond programs primarily based on your and your company’s credit score. It explains:

• The purpose and benefits of surety bonds
• How surety companies review your business as part of the  transactional surety bond application process
• What you need to provide during the transactional application process

It includes checklists and other documents that you can use as you prepare to apply for a transactional surety bond or small bond program.

Objectives

After completing the modules in this learning path, you will be able to:

• Explain benefits of surety bonds and recognize how surety bonds could help your business
• Define the term surety bond, types of surety bonds and application processes
• Identify roles of surety bond professionals and be ready to find a surety bond producer
• Define the three C’s (Character, Capacity, and Capital) of underwriting 
• Be prepared to go through the six steps of the transactional surety bond application process for a single bond or small bond program that relies primarily on credit scores