Let’s say you’re looking for a cleaning company to clean your office after hours and prepare it for the next working day. After checking the Yellow Pages, asking a few friends in other businesses and maybe just throwing darts at a dart board, you come up with a couple of plausible options. Cleaning Company A boasts the fact that it offers proof of surety bond protection. You and your company are protected against fraudulent cleaning employees, cleaning crews who don’t show up and against the cleaning company going out of business. Cleaning Company B has no such offer of surety bond protection and hopes you’ll enlist their services based on nothing more than their happy, smiling faces and the promise of good work.
Who do you choose?
In the world as it exists today, surety bond protection is a compelling marketing point for companies hoping to acquire new business and protect their customers, and themselves, in the long run. While Cleaning Company A receives no direct protection from holding a surety bond, they may be saving themselves from future lawsuits by customers who are dissatisfied with the services provided.
By virtue of Cleaning Company A holding a surety bond you, the customer, are assured the cleaning company has good credit, solid financial status and a reliable reputation. Without these qualities the cleaning company would not have been able to acquire surety bond protection in the first place.
Anytime you’re in the market for goods and services from a company you’ve had little or no previous experience working with, you can look at surety bond protection as a professional recommendation stating the company meets at least a minimal level of good business ethics. You can consider it safe to take a change on a company that offers surety bond protection in their business proposal.