Prequalify once. Bid ready to be bonded.
One free application sizes your bonding to your work. Then bid the jobs you find on Light RFP and the ones you find anywhere else, with your file already with the underwriter.
Bonds are written through Propeller Bonds. Light RFP Risk Management Services LLC is the broker, NY DFS License # PC-1978982.
Bonding program
Ready when a bid asks for a bond.
Public work usually asks for a bid bond with the bid and performance and payment bonds once you are awarded. Prequalifying puts your file with the underwriter before a deadline does.
Apply once, free
Tell the surety about your company, your work and the job you are going after, and write in the bonding line you want.
An underwriter sizes your line
Once your application is set up, your assigned underwriter follows up with next steps. The owners’ credit check is a soft pull, which never affects a score.
Bond any job you win
Bid bonds are free in every state we serve. When you win, the performance and payment bonds are a flat 3% of the contract value, from A-rated carriers, wherever you found the job.
- Prequalification
- Free
- Bid bonds
- Freein every state we serve
- Performance & payment bonds
- 3%of the contract value, both bonds
Light RFP earns a commission from the carrier on all policies and bonds it places.
Your line
How big a line?
It depends on what you can show more than on your revenue. Per job is the largest single contract the surety will bond; all open jobs is your bonded work at once.
| Tier | What you show | Per job | All open jobs |
|---|---|---|---|
| Credit | Owners’ credit, your D&B report and past job sizes. No financial statements. | $1M – $3M | $1.25M – $3M |
| Credit Plus | Three accrual year-ends, the latest tax return, personal financial statements, a bank letter and a work-in-progress report. | $1.5M – $3M | $2M – $5M |
| Large line | CPA-reviewed or audited statements with work-in-progress and completed-jobs schedules and a bank line confirmation. | No set cap | No set cap |
Ranges from Propeller Bonds’ Performance Plus program. Your underwriter sets your line.
What the application asks.
The carrier’s own prequalification form, in one sitting. For a larger line, the underwriter may ask afterwards for financial statements, a bank letter and a work-in-progress schedule.
Your company
Entity type, the year it was founded, its address, the owner and a contact.
Your work
Your specialty, your largest project in the last three years and its scope, your work on hand, and any unfinished bonded contracts.
The job you are going after
The owner or agency that requires the bond (the obligee), a description and location, and the dates you expect it to start and finish.
Owners and history
Five yes or no history questions, the owner’s Social Security number, the company’s FEIN and a credit authorization.
Fair questions.
What does prequalifying cost?
Nothing. Prequalification is free. Bid bonds are free in every state we serve, and when you win, the performance and payment bonds are a flat 3% of the contract value, from A-rated carriers. Light RFP earns a commission from the carrier on all policies and bonds it places.
Do I need a job lined up?
The application asks about the job you are going after: its owner, its location and the dates you expect. For the bond amount, write in the bonding line you want.
Does it affect my credit?
The owners give a credit authorization on the application. The check is a soft pull, which never affects a credit score.
Can I bond jobs I did not find on Light RFP?
Yes. Bond any job you win, wherever you found it: a public bid, a private RFP or your own client. Every bond has its own page in the bond directory, with how it is priced and its application.
Who writes the bonds?
Bonds are written through Propeller Bonds, a managing general agency (an agency that underwrites and issues bonds on the carriers’ behalf) licensed in all 50 states. Light RFP Risk Management Services LLC (NY DFS License # PC-1978982) is the broker.