Bond guide
Surety prequalification checklist for contractors
Having these documents ready speeds up surety underwriting.
Company
- Legal name, entity type, and ownership
- Business resume and years in business
- List of completed projects with owners and contract amounts
- Licenses held
Financial
- Year-end financial statements for the last two to three years
- Interim financial statements
- Work-in-progress schedule
- Bank line of credit letter
- Accounts receivable and payable aging
Owners
- Personal financial statements
- Authorization for credit review
- Resumes of key managers
Project
- Bid documents or contract
- Bond form
- Contract amount, schedule, and location
Frequently asked questions
How current must financial statements be?
Sureties generally want fiscal year-end statements within months of year-end and interim statements for larger programs.
What is a WIP schedule?
A work-in-progress schedule listing each open job with contract amount, costs to date, estimated costs to complete, billings, and gross profit.
Do I need a business plan?
For larger or growing programs, a short plan explaining your strategy helps.
More bond guides
- Performance bonds for contractors
- Payment bonds
- Bid bonds
- Maintenance bonds
- Supply bonds
- Contractor license and permit bonds
- How to get bonded as a contractor
- Bonding capacity explained
- What determines performance bond cost
- Public works bond laws: the Miller Act and state statutes
- Surety prequalification checklist for contractors
Last updated October 15, 2026 · How we research