With all the uncertainty surrounding the construction economy, one thing is for sure: Surety Bonding. These experts share their insights from 2025.

HOW CAN CONTRACTORS BUILD A STRONGER CASE FOR BONDING WHEN EXPANDING INTO NEW GEOGRAPHIC MARKETS?

Monique Nightingale-Pitter
Lead Home Office Construction Surety Manager
Chubb

When expanding into new geographic markets, contractors can build a case for support from their bonding company by showcasing their ability to manage potential challenges in the new region. Here are a few key strategies that contractors can implement.

• Develop a clear business plan. Contractors should provide a detailed business plan outlining goals, strategies, and risk mitigation measures tailored to the new market. A clear business plan demonstrates the contractor’s preparedness and commitment to success.
• Prove financial stability and operational capabilities. Demonstrating financial strength and a track record of successfully completing similar projects is key. A solid financial foundation better enables a contractor to navigate challenges such as unexpected conditions, costs, or delays. Highlighting past projects where the contractor has successfully managed similar risks helps demonstrate the contractor’s ability to execute, adapt, and overcome challenging situations.

Reprinted courtesy of Construction Executive, a publication of Associated Builders and Contractors. All rights reserved.