Secrets of Bonding

No WASTED MONEY on boring CE classes!

FIA Surety is providing a pair of exciting, free zoom webinars:
“Understanding Financial Statements” on 1/6/26 and
“Advanced Financial Statement Analysis” on 2/2/26

After these free Zoom classes you’ll never be intimidated by a financial statement again! Join us: 3 free CE credits, no exam. Attend from home or office. You may actually enjoy it!
More info and to register, click or paste into a new browser: 
https://fiasurety.blog/2020/08/16/free-ce/

FIA Surety / First Indemnity of America Ins. Co., a Palomar Company
2740 Rt. 10 West, Suite 205Morris Plains, NJ 07950
856-304-7348
A Carrier Providing Contract, Site and Subdivision Bonds up to $10,000,000!

We just added another state to our accredited Free CE program:

• AL
• AZ
• CA
• DE
• FL
• GA
• MD
• MA
• NJ
• NY
• NC
• OH
• PA
• SC
• TN
• TX
• VA
• WV and now including…
• Oregon!

Are financial statements intimidating? We call our next two webinars the “Dynamic Duo.” They cover the basics of reading financial statements (January) and then a deeper plunge into the subject (February).
Think how much you could learn in six hours of instruction!

Get more info and register once for all future webinars. 3 credits per month and no exams. Nothing to buy or download. Attend from home or office.
Oregon agents, sign up now! Click or paste into a new browser:https://fiasurety.blog/2020/08/16/free-ce/

FIA Surety, a Palomar Company – Bonds up to $10,000,000 Specializing in Contract, Site, and Subdivision Bonds for more than 45 years. We’re the EXPERTS!

http://www.fiasurety.com
856-304-7348

Put on your thinking cap and take a shot at this latest FIA Surety Challenge – based on a real life case.

Details:

• In January a standard Performance and Payment bond was issued for the general contractor. The GC hired a subcontractor and the sub bought materials from a supplier.
• The last materials were provided by the supplier in July.
• The sub encountered a serious financial disruption, resulting in money owed to the supplier. They told the suppplier what was going on, “we hope to pay you shortly.” Time passed…
• The state in question has a 120 day lien law (the time allowed to file a lien after the last completed work or supplied materials.)
• In July, the supplier filed a Preliminary Notice to File Lien – a normal precautionary step performed by all suppliers.
• In December, the supplier ran out of patience and filed an actual lien and made a payment bond claim.

FIA Surety Challenge question: If you were the claims rep, how would you respond to this claim, and why? Should it be paid? Click for “think music.”

OK, your answer please?

This one is a little complicated. The preliminary notice is not an actual lien. A lien was eventually filed, but it was late, needed to be filed no later than November. When filed, such a lien has no legal effect.

With the lien period expired, and no valid lien on file, the claimant has missed an element required to make an enforceable bond claim.

Unfortunately for this claimant, they waited too long to act and missed their window of opportunity. There is a legal basis for declination of the claim.

FIA Surety / First Indemnity of America Ins. Co., a Palomar Company
2740 Rt. 10 West, Suite 205
Morris Plains, NJ 07950
Office: 973-541-3417
A Carrier Providing Contract, Site and Subdivision Bonds up to $10,000,000!

A capped bid bond (maximum dollar amount) can be last minute increased with an email attachment of the front page, if signatures are on the second page.

FIA Surety / First Indemnity of America Ins. Co., a Palomar Company
2740 Rt. 10 West, Suite 205
Morris Plains, NJ 07950
Office: 973-541-3417
A Carrier Providing Contract, Site and Subdivision Bonds up to $10,000,000!

“Our 2026 budget for CE expenses: $ Zero!!“

No more wasted dollars on boring CE classes. The FIA Surety Free CE School offers fun, interesting Zoom webinars you can attend from home or office. No exams. 3 free CE credits per month. Free gifts. Learn / Earn!

FIA Surety has delivered thousands of Free CE credits, and our program is only getting better – adding new states, updating our course selection. No more “HO-1” classes for your people!

Check out our upcoming schedule. Click here, or paste this into a new browser: https://fiasurety.blog/2020/08/16/free-ce/

Register once for access to all future monthly webinars. Nothing to buy or download. 2026 is gonna be great! Follow the link for more info.

This program is provided by your best Surety Carrier:
FIA Surety, a Palomar Company – Bonds up to $10,000,000
Specializing in Contract, Site, and Subdivision Bonds for more than 45 years. We’re the EXPERTS!

http://www.fiasurety.com
856-304-7348

Our next FIA Surety Free CE Zoom webinar is coming up on Monday, 12/1/25, 1:00-4:00pm eastern. We’re presenting “Advanced Surety Bonding Solutions,” worth 3 free CE credits. This is great stuff! Even if you are a bond pro, you may still have a few AHA! moments with this webinar.

Click for more info and our “once and done” registration form or paste this address into a browser: https://fiasurety.blog/2020/08/16/free-ce/

(We’ll be announcing our newest additional state soon!)

FIA Surety / First Indemnity of America Ins. Co., a Palomar Company
2740 Rt. 10 West, Suite 205
Morris Plains, NJ 07950
Office: 973-541-3417

A Carrier Providing Contract, Site and Subdivision Bonds up to $10,000,000!

Here is your best surety carrier solving the CE problem: the FIA Surety Free CE School – interesting, convenient, free Zoom webinars you can attend from home or office. What’s not to love?!

Our next monthly webinar is on Monday, 12/1/25 “Advanced Surety Bonding Solutions” 1:00-4:00 pm eastern. This is a game changer for surety producers. Solving problems for your clients is how you win new business. We’re here to help!

Register once and you are entitled to attend all our future monthly webinars. Fun, free gifts, great info and delicious snacks you provide. You’ll love it. Plus 3 free CE credits with no exam. You in?

Click for info and to register or copy and paste this address: https://fiasurety.blog/2020/08/16/free-ce/

FIA Surety / First Indemnity of America Ins. Co., a Palomar Company
2740 Rt. 10 West, Suite 205
Morris Plains, NJ 07950
Office: 973-402-1200
A Carrier Providing Contract, Site and Subdivision Bonds up to $10,000,000!

Correct identification is important when browsing the forest for edibles – maybe even crucial!

What about in bonding? Not being able to identify a bond may not be life threatening, but it won’t improve your career health either.

Here’s one that can be challenging, but we’ll give you the keys!

Contract / Performance & Payment Bond vs. Site or Subdivision Bond

Identify a Site or Subdivision Bond:

• The obligee / party requiring the bond is always the local municipality
• There is never a written construction contract between the municipality and the bond applicant
• The bond applicant is not being paid to perform the work guaranteed by the bond. The applicant is self-funding the project (may have obtained a construction loan.)
• The subject of the bond is always site work such as installing water and sewer lines, stormwater management, roads and sidewalks, landscaping, traffic & safety, signage, parks, etc.
• “Vertical construction,” such as residential structures, are never the subject of the bond.
• There is often no specifiied completion timetable
• Bond amount can be reduced as work proceeds
• Typically, bond does not cover claims by suppliers of labor or materials

With this expertise you can guide your client appropriately and select a responsive surety carrier – one that has aggressively pursued this business for more than 46 years: FIA Surety.

Brilliant!

Take your chances, or make the smart move – 

call the EXPERTS! It’s that easy…

Oh wait, there’s more: Check out our accredited Free CE courses, Zoom webinars you can attend from home or office. Our webinars are wildly popular, free and there are no exams. 3 credits each. Click for info and to register.

FIA Surety / First Indemnity of America Ins. Co., a Palomar Company
2740 Rt. 10 West, Suite 205
Morris Plains, NJ 07950
Office: 973-402-1200
A Carrier Providing Contract, Site and Subdivision Bonds up to $10,000,000!

Processing bond opportunities may be easy. But sometimes we get a…

Tough Nut!!!

Let’s face it, MOST surety opportunites exist because a problem needs solving. Agents and their carriers known as Problem Solvers are a magnet for new business. That’s why this most recent FIA Surety Success Story is relevant.

What does a tough nut look like when underwriting surety?

Details:

• The applicant is a site contractor in business over 10 years.
• They have negotiated a sizeable new private contract with a repeat customer.
• The contractor has a surety program through another agent, but is seeking better terms. They have a high premium rate and also pay for funds control.
• Personal and company credit reports are weak.
• Most recent fiscal year end: Profitable with low net quick and negative net worth.
• 2025 recent interim company financial statement shows profitable operations with low net quick and negative net worth.
• $10 million work program needed. Internally prepared financial statements.
• Current work on hand includes two large contracts less than 50% complete.
• No indication of available bank credit.

How can we enable our agent to win this client’s business? What would YOU do?

The applicant has a good track record, but is obviously under stress at the moment. The file does not justify a low rate – so that’s not the hook.

In order to support our agent and this client we need an element of financial control on the contract funds.

The FIA Surety solution:    

1. Joint checks    2. An adjustment to the contract retainage clause, and    3. A condition in the bond regarding the release of funds!    The client will also engage a CPA.

These procedures eliminate the escrow fee while protecting the surety and help prevent payment bond claims.

Brilliant!

Call us when your next bond pops up! It’s that easy…

Oh wait, there’s more: Check out our accredited Free CE courses, Zoom webinars you can attend from home or office. Our webinars are wildly popular, free and there are no exams. 3 credits each.

Click for info and to register.

FIA Surety / First Indemnity of America Ins. Co., a Palomar Company
2740 Rt. 10 West, Suite 205
Morris Plains, NJ 07950
Office: 973-402-1200

A Carrier Providing Contract, Site and Subdivision Bonds up to $10,000,000!

Our next FIA Surety Free CE Zoom webinar is coming up on Monday, 11/3/25, 1:00-4:00pm eastern. We’re presenting Surety Bonds 101, worth 3 free CE credits. Get ’em!

Register once for all our monthly programs: Click!

FIA Surety / First Indemnity of America Ins. Co., a Palomar Company
2740 Rt. 10 West, Suite 205
Morris Plains, NJ 07950
Office: 973-541-3417
A Carrier Providing Contract, Site and Subdivision Bonds up to $10,000,000!