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The Bond Department, with over 80 years of combined surety experience in the construction, development
and home building sector, is focused on providing all our clients with accurate and expeditious
service that will enable our clients to comply with any public or private surety requirements that
are encountered. Our expertise and service is unsurpassed in Southern California.
In addition to Southern California, we have extensive experience in other
states such as Arizona, Colorado, Maryland, Nevada, Oregon, Utah, Virginia and Washington.
We are licensed in those States, as well as many others and are familiar with their nuances.
In Nevada, all bonds are required to be countersigned by a local resident agent. In Virginia,
the Attorney-in-Fact signing on behalf of the bonding company must have their Power-of-Attorney
filed and recorded in certain counties. This kind of experience and knowledge is required for
our clients' ability to smoothly work through any bureaucratic requirement. Should a situation
arise that requires a local presence, we have relationships in place through various professional
associations such as the National Association of Surety Bond Producers (NASBP) that we can
implement.
In states outside of California, Sureties maybe required to have a minimum Best's Rating of at
least "A" or be on file with the Department of the Treasury Approved Sureties (Department
Circular 570). All of the surety companies that we transact with meet both of these requirements. In California, a Best’s or Standard & Poor rating cannot be used to discriminate or pre-qualify a bonding company. Assembly Bill AB 2972 passed in 1992 requires that the surety only be licensed to transact surety business. We only transact business with sureties that are properly licensed.
Our knowledge with major sureties that underwrite construction and development business is unequaled and we
are constantly monitoring the ever-changing marketplace. We have excellent relationships with
the major sureties that take on development business. Those relationships extend beyond the local
level to the surety company home office. Mergers, acquisitions and takeovers over the last few
years have reduced those sureties participating to number only a handful.
From entitlement to project completion, we are prepared to assist our clients with our expertise and
service. Our goal is to assure that the proper documents are provided quickly and accurately the
first time around. We review agreements, contracts and bond forms from the position of
protecting our clients' interests. This service and commitment has been demonstrated numerous times
to our clients when, either in the urgency of the moment or not understanding certain risks involved,
we recommended that changes in the agreement or form be made or not to provide a bond until the
conditions were more favorable to our clients.
Financial information, or any other information provided by our clients is thoroughly reviewed and
analyzed. Any questions or issues are addressed prior to submission to the surety company that
has been authorized by our clients.
Other services of the bond department include providing and maintaining detailed listings of all
the bonds outstanding for the various entities and following up for bond exonerations once the
obligations have been fulfilled.
Rohm Insurance Agency is committed to providing the best possible service to our clients and
ensure that they receive the most favorable rates and terms possible from their surety carrier.
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