Month: August 2020

You Missed the Boat!

You missed registering for our 9/1/20 FIA Surety Free CE class. But you can get in on the 10/1/20 program. You and all your colleagues can attend from your home or office computers.

  • Free!
  • Easy!
  • Learn about surety bonds!
  • Earn 3 CE credits!

Our Continuing Education courses are approved in NJ, PA, SC, FL, TX and TN. (more coming soon)

Click for details and registration

Since 1979, FIA Surety (a bonding carrier) has provided Site, Subdivision, Bid and Performance Bonds. Check us out!

Need a bond? Call: 973-541-3417

FIA Surety / First Indemnity of America Insurance Company, Morris Plains, NJ

We are currently licensed in: NJ, PA, DE, MD, VA, NC, SC, WV, TN,  FL, GA, AL, OK, TX

FIA Surety: Turning “DUH!” into “TA-DAH!”

How it started: “Hi Steve, I have a strange scenario I hope you can help me with.”

Our agent had a performance bond client established with a surety and the SBA program.  They needed a P&P bond for a municipal project and the surety demanded payment in advance.  The client could not comply.

The award and notice to proceed were issued and the contractor commenced with the work – but the obligee forgot about the bond, until now. The contract is completed but the client cannot receive their final payment until they file a maintenance bond.  Due to weak credit, the surety is refusing to issue unless they add additional indemnitors.  The job is finished: DUH!

We gathered a file and asked for a status inquiry form from the obligee (to confirm the degree of completion and obligee’s satisfaction with the project.)  The contractor passed along the form, but the project manager refused to complete it, stating he “never saw one of these before.” DUH #2!

We made contact with the township engineer and after a friendly conversation, were able to verify everything was OK and they promptly completed the form for our records.  We evaluated the bonding requirements and determined that the Performance bond form contained an 18 month maintenance clause (no separate maintenance bond), so the P&P bond was still needed.  FIA Surety issued it, and with no SBA support or additional indemnity required: TA-DAH!

The agent is happy.  The contractor is happy.  The township has a completed project with maintenance coverage. We bonded a job that was completed and accepted.  Now was that so hard?

FIA Surety is First Indemnity of America Insurance Company, your go-to carrier for Site, Subdivision, Bid and Performance bonds. Call 856-304-7348

Making TA-DAH moments for our clients since 1979.

FIA Surety / First Indemnity of America Insurance Company, Morris Plains, NJ

We are currently licensed in: NJ, PA, DE, MD, VA, NC, SC, WV, TN,  FL, GA, AL, OK, TX

FREE CE!

First Indemnity of America Insurance Company

An “A Rated” Carrier

2740 Rt. 10 West, Suite 205
Morris Plains, NJ 07950
Office: 973-541-3417

FIA Surety is First Indemnity of America Insurance Company, a provider of Site, Subdivision, Bid and Performance Bonds since 1979.  Call us when you need a surety bond!

Through our accredited FIA Surety School, we offer continuing education courses for insurance agents.  These courses are provided free of charge, a service of FIA Surety. You can participate in these teleconference sessions from the convenience of your home or office computer.

Use the registration form below and join us for the next CE webinar!

At the current time our teleconference courses are approved for resident agents of:

  • Florida
  • Georgia
  • New Jersey
  • Pennsylvania
  • South Carolina
  • Tennessee
  • Texas
  • Additional states coming soon!

Upcoming:

  • November 2, 2020, Monday 9:00 am to 12 noon Eastern Time, teleconference CE class “Surety Bonds 101 Webinar” (3 CE credits)
  • December 1, 2020, Tuesday, 9:00 am to 12 noon Eastern Time, teleconference CE class “Understanding Site and Subdivision Bonds Webinar” (3 CE credits)
  • There WILL be future dates added for both courses.

To attend our webinars, please complete the form below and we will send you a confirmation email. Please register at lease five days before the scheduled class date.

Questions?  Call us!  Steve Golia, Director 856-304-7348

FAQS:

  • Q. Are the Continuing Education classes approved by the state? A. Yes all our courses are fully approved by each state where we offer them.
  • Q. How many credits are provided in each course?  A. Three CE credits per course.  You can get credits for each course once per license cycle.
  • Q. Who is eligible to attend these classes.  A. Any licensed P&C agent is allowed to take our courses.
  • Q. How many people from our agency may attend? A. One or more may attend.  Tell your colleagues not to miss it.
  • Q. How much do the courses cost?  A. All our courses are free, a service of FIA Surety.
  • Q. How is the course delivered?  A. These are teleconference courses (webinars) you may attend from any computer at work or home.
  • Q. Do I need special software?  Do I have to buy anything?  A. This is a “Zoom” meeting.  Free!
  • Q. How do I attend a future course?  A. Complete the brief registration form below and we will process your reservation.
  • Q. Can I take a course immediately before my license renewal date?  A. You can take our courses any time during the term of your license.  However, time is needed to post and process your credits, therefore we recommend attending the courses at lease 60 days prior to your anniversary.
  • Q. What do I need to do during the course?  A. You need to be present continuously, give the program your undivided attention and respond to our attendance verification prompts.
  • Q. When are the classes held?  A. From 8:45 am to 12:15 pm (includes set-up and break time.)
  • Q. Is there a final exam?  A. No.

REGISTRATION FORM

Thanks for submitting your registration!

Graduate from the SBA

Congrats to the kids!!  They finally made it.  Now its their time to move on and move up.  What about contractors in the SBA Bonding program?  Is it their time to graduate?

The SBA program is a great help, and the people are awesome: dedicated, helpful.  But the program has a down side.  It costs time and money to obtain their bonding support.  So if a contractor could get federal and other projects without this extra step, why wouldn’t they?

Here’s what you gain, more or less, by graduating into a regular surety relationship:

More

  • Time to pursue productive activities – new projects, strategic planning, employee training, educational opportunities, etc.
  • Time for other personal and family priorities
  • Profits on your projects and financial statement overall
  • Increased profits can lead to higher bonding limits and bigger projects
  • Credibility – a graduated company no longer needing extra help

Less

  • Bonding expenses (bond premium plus SBA fee) on each project
  • Time spent filling out double forms for the surety and the SBA
  • Answering questions to both
  • Waiting for approvals

OK, so if graduating sounds great, how do you do it?

Step one: Ask the current bonding company to provide bonds without the SBA program.  If they do it, you can thank us later!

Step two: If they refuse, call FIA Surety!  We provide bonds for federal and local projects without the need for SBA support.  It takes a creative, experienced surety to graduate contractors.   FIA has been providing Bid, Performance & Payment, Site and Subdivision Bonds since 1979. We’re steady.  We’re willing.  We’re creative.

It’s time to graduate!

For Site, Subdivision, Bid and Performance Bonds call Steve Golia: 856-304-7348

FIA Surety / First Indemnity of America Insurance Company, Morris Plains, NJ

We are currently licensed in: NJ, PA, DE, MD, VA, NC, SC, WV, TN,  FL, GA, AL, OK, TX