Surety Bond Department

Our focus at DiBuduo & DeFendis is maximizing our clients’ bonding capacity and getting them the best rates available. We have access to all markets, including some which most agents are not even aware of.

Like many businesses, surety companies have been struggling recently, which has an impact on contractors. Some sureties have dropped out or have been bought out by other surety companies, and many of the survivors are tightening underwriting and reducing available bonding capacity. However, there are a few select Surety Companies who are becoming more aggressive and looking for the right contractors with which to establish a long-term relationship. Over the past few months we have been very successful placing contractors with these select surety companies.

Currently, we are focusing on helping contractors get the most Bonding Capacity available to allow for additional bidding that contractors must do to pick up any work.
If you are a contractor who is new to the public work arena and interested in starting off with smaller bonded jobs, we have streamlined the process for contractors needing a bid, payment and performance bonds for projects up to $400,000. This simple process requires only a two-page application and is based solely on your credit history.

Our department is managed by Justin Smit, a Certified Public Accountant. Prior to joining DiBuduo & DeFendis, Mr. Smit worked six years for Stoughton Davidson Accounting Corporation. The infrastructure of this department provides the Marketing and Processing of all Contract Surety Performance/Payment Bonds, License & Permit Bonds, Fidelity (honesty) Bonds and Court Bonds for all DiBuduo & DeFendis offices.

The following are the U.S. Treasury listed most frequently utilized by DiBuduo & DeFendis:

• Allied Group, Nationwide Surety & Fidelity
• CNA Surety
• Great American Insurance Group
• HCC Surety Group
• Hartford Insurance Group
• Amtrust Surety
• Old Republic Surety Group
• Travelers Surety
• Western Surety Company
• International Fidelity Insurance Company
• Liberty Mutual Surety
• Merchants Bonding Company
• SureTec Insurance Company
• The Hanover Insurance Company
• United Fire Group
• Zurich Surety

Contact Justin Smit at (559) 432-0222 or jsmit@dibu.com