As explained in our last Surety Corner, providing accurate and timely interim financial reporting is a key factor in successfully growing your bonding facility.
The surety company wants to know throughout the year how your company is performing financially. When the results are positive, this can lead to increased surety support. However, from experience, bond companies know that the internal financial reports are not always accurate and so the sureties often request a corresponding work in progress or work on hand report to allow for a deeper analysis of the financial report.
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