By making it easier for small, minority-owned and woman-owned contractors (MWBEs) to get bonded, we’re addressing disparities in the bidding process, and we’re helping unions prosper.
Ullico Casualty Group, LLC, in conjunction with partner NFP, a leading property and casualty broker, offers a program to help MWBEs obtain the bonding necessary to compete for bids as signatory contractors on union construction projects within its Construction Risk Services portfolio.
The Ullico/NFP Small Contractors Surety Bond Assistance Program provides MWBEs access to bonding they may not have had previously, due to the challenges associated with bonding new contractors. At the same time, it encourages them to bid on publicly funded projects and large commercial projects where union labor is required.
Contractors can apply for bid bonds, license and permit bonds, performance and payment bonds, supply and maintenance bonds, and union wage and welfare bonds, with single bond limits up to $500,000 in a streamlined version of the program and limits of $20,000,000 or more in standard programs.