Saving a contractor from a bid bond decline

Contractor Bid Bond

Client Profile: Construction Contractor ~ $16 million annual revenue and growing rapidly. 14 employees.

The Challenge: Current bonding broker was inexperienced and unable to get the bond limit increased to meet client bonding needs.  The client had challenges getting bid bonds approved for a large contract, business invests time and money to participate in bid.

Our Solution: Nexus met with the client to asses situation, risk factors and financials. Communicated with bonding company on clients behalf and convinced them of the clients capabilities to successfully complete the contract.

The Results:  Client received approval for bond required.  Client was the successful bidder.  Project was very profitable for the client.  The client enjoyed larger bond facility limits, a better understanding of how their bond facility works and what needs to be done going forward.