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Broad Brushstrokes: Surety Paints Itself out of a Tough Situation
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Often times, a surety will elect to assist with contractor financing in an effort to mitigate claim losses. Such was the case on one of Guardian Group, Inc.’s files that involved a painting contractor in the Southwest. This large firm had several jobs open simultaneously, and the principal was experiencing cash flow problems. Many of the company’s bonded projects, each requiring a degree of specialization, hadn’t even been started when signs of financial distress began to manifest. The projects were large in scope, involving industrial-grade paints, materials and working knowledge and experience of specific application procedures.

Guardian’s Surety Group provided project oversight on all pending jobs, using our own project manager to ensure timely completion. All work was completed to everybody’s satisfaction… and to the relief of the surety. On one project, in particular, our vigilance in tracking delays, extra work and the costs involved in the remedial painting done by other trades resulted in a claim against the General Contractor. Guardian’s experts provided testimony and assisted the surety’s counsel in obtaining a substantial recovery of its loss. Our experience in assessing problems, our proven capacity to bring unique solutions to the table and our utilization of the right people mitigated the surety’s loss.

When a surety finds itself in the unenviable situation of providing financing, having the right surety consultant in place becomes even more essential. With nearly 30 years of experience serving as the most value-oriented performer and our industry’s staunchest ally, Guardian Group, Inc. is the one to call for large claims, small claims and everywhere in-between. Reach out today!

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