- Contract bond capacity up to $30 million per job/$60 million bonded aggregate
- Access to the SBA Bond Guarantee Program for non-standard contract bond business
- A full suite of commercial bond offerings
- Competitive commissions
- Direct or agency bill options
WHAT WE HAVE TO OFFER
STABLE. RELIABLE. SOLUTION ORIENTED.
WEST BEND
We value our relationships with agents and are committed to making it easy to do business with us. Our underwriters are always happy to connect, and we encourage you to reach out with any questions, concerns, or suggestions. We're here to support you every step of the way.
SURETY
West Bend is a full-service surety, offering standard contract and commercial bonds across the United States. With access to the SBA Bond Guarantee Program for non-standard contract business, we serve as a one-stop shop eager to help our independent agency force.
West Bend Surety can support contract bonds up to $30 million per job and up to a $60 million bonded aggregate. Our underwriters look at each account based on its individual merit with a consistent, common-sense approach. No textbook underwriting!
Within our Rapid Bond program, we can quickly assist contractors with their small and infrequent bond needs up to $750,000 single job and $750,000 bonded aggregate. With an online, automated approval based largely on personal credit scores, bonds can be obtained in a matter of minutes. No financials required!
Access our full range of bonds, including contract and commercial offerings, through the Surety Portal. Many bonds can be instantly issued with little to no underwriting required.
Bond forms are automatically generated, pre-filled, and include a power of attorney for a seamless experience. Many are also pre-executed with a digital signature and seal, allowing you to email them directly from our system straight to your client. We also accept DocuSign applications and general indemnity agreements, making the process even more convenient.
Have questions?
Our underwriters are here to help. To get started, visit My Silver Lining, reach out to your designated underwriter, or email bonds@wbmi.com and we will connect you with the right person. Underwriter Contact Cards can be found at bottom of this page.
RAPID BOND PROGRAM
BID. PERFORMANCE/PAYMENT.
$750,000 single job – $750,000 aggregate
Instant Contract
Surety Approvals:
The Rapid Bond general agreement of indemnity, included with the initial account application, is a blanket form valid for all Rapid Bonds. The contractor need only sign one application, one time!
Immediate online response
Underwriting based on credit score; no financials required
Flat $25 per thousand of the contract amount
No charge for bid bonds
One-time application
– Instantaneous approvals
– Standard commissions
– DocuSign available for account applications
Like standard contract bonds, Rapid Bonds are submitted through our Surety Portal, which generates an immediate approval.
Streamlined entry
With the first Rapid Bond submission, the account’s program, up to $750,000 single and $750,000 bonded aggregate, is automatically set.
Program automatically established
Rapid Bond programs are set for a one-year period after which credit report(s) are updated to renew the account’s program for an additional year.
Easy program renewal
PROGRAM OVERVIEW
HIGHLIGHTS
contractors who do not qualify for the Rapid Bond program may still be eligible for the similar, streamlined SBA Quick Bond program. Ask for details!
PLUS,
COMMERCIAL BOND RATES
RATE TABLES FOR BUSINESS SERVICE BONDS, NOTARY, AND ERISA
BUSINESS SERVICE BONDS
*Owner exclusion and conviction clause does not apply.
A Business Service Bond protects your customers’ clients from theft committed by employees working in the client’s home/office.
Up to $100,000 limit.
For bonds less than $10,000, the owner exclusion and conviction clause are waived.
Applicant is required to perform employment history and criminal background checks on new employees.
NOTARY BOND RATES
without E&O Coverage
A Notary Bond protects the public or a client from improper notarization. Notarization encompasses any notarial act, such as taking an acknowledgement, administering an oath or affirmation, witnessing a signature, and certifying or attesting a copy. Additionally, Errors & Omissions Insurance (E&O) is an insurance policy that protects the notary. The total premium for a notary bond plus E&O coverage is calculated by adding the premium for a notary bond to the premium for the corresponding level of E&O coverage selected.
For IL only: $30,000 bond available, which includes $5,000 standard notary and $25,000 remote notarization for a total premium of $50.
Notary bond rates do not apply in IA, MN, NC, SC, and VA.
NOTARY E&O COVERAGE
ERISA BOND RATES
ERISA BONDS
ERISA, or Employee Retirement Income Security Act, protects participants and beneficiaries from dishonest acts of a fiduciary who handles plan assets. ERISA requires that every plan bond all fiduciaries and individuals who handle plan assets.
Coverage Requirements: The ERISA bond penalty is equal to 10% of the total plan assets, with a maximum penalty of $500,000. If the investments are part of an ESOP, the maximum bond penalty is $1,000,000.
Basics:
• Total number of trustees, fiduciaries, or employees who handle the funds/property must be six or fewer.
• Funds must be administered by a third party.
• Plan assets must be fully qualified.
• Can only be written where there have been no prior losses.
WHAT WE OFFER
rates
CONTRACT BONDS
BID. PERFORMANCE/PAYMENT. SUPPLY. MAINTENANCE.
Guarantees that the contractor submitting a bid and subsequently awarded a construction contract will enter into the contract and furnish the prescribed performance and/or payment bond.
Instant approval on bonds up to $750,000 with underwriting based on personal credit score
BID BOND
Guarantees the contractor will fulfill the construction contract and will pay subcontractors, materials suppliers, and laborers.
PERFORMANCE/PAYMENT BOND
Guarantees faithful performance of a contract to furnish supplies or materials.
SUPPLY BOND
Guarantees against defective workmanship or materials for a specific period of time. Some also guarantee efficient or successful operation.
MAINTENANCE BOND
For details, please reference My Silver Lining or contact your underwriter.
RAPID BONDS:
For accounts with larger or more frequent bond needs. Agent lines of authority are available for qualified accounts.
Competitive rate structures
Limits of up to $30,000,000 per job/$60,000,000 bonded aggregate program
General contractors & trade contractors (including asbestos and lead abatement)
For new account consideration, please refer to the Contract Bond Submission Checklist accessible on the Bonds home page of My Silver Lining.
STANDARD CONTRACT BONDS:
Contract bonds for small or disadvantaged contractors and/or companies that otherwise do not qualify for standard bonding programs.
West Bend handles the submission to the SBA and bonds are issued on West Bend paper. The rate is $24 per thousand and commissions start at 20%.
Allows contractors to graduate into our standard market bond facility with more favorable bond rates and bonding capacity. Ideal for emerging or start-up companies.
SBA Quick Bond Program for bonds up to $500,000 with a short form application and 24-hour turnaround.
For underwriting requirements, eligibility, and rates, please refer to the SBA Instruction Sheet accessible on the Bonds home page of My Silver Lining.
SBA BONDS:
• Your own dedicated underwriter – no call centers to phone into.
• Personalized training. From formal CE classes to personalized in-house or virtual agency training, we’re happy to help you enhance your bond knowledge.
CUSTOMER FOCUSED AND RELATIONSHIP DRIVEN
• Our Surety Portal includes a wide array of bonds that can be instantly issued with little to no underwriting.
• For bonds that require additional underwriting information, we offer flexible options and fast turnaround.
• Many bonds are pre-executed using digital signatures, seals, and notarization, allowing you to email bonds directly to your clients. No more printing and mailing!
• Competitive rates and attractive commission structures.
• Direct bill and agency bill options available.
EASE OF DOING BUSINESS
All other commercial surety bonds, which often arise from business transactions and relationships or are required by governmental entities to protect the public. Examples include: Utility, Wage & Welfare, and Lost Securities or Title Bonds.
MISCELLANEOUS BOND
Guarantees honest, faithful performance of duty by a public official. Examples of public officials who may be required to provide a bond include: Notaries, Treasurers, Sheriffs, and Court Clerks.
PUBLIC OFFICIAL BOND
Guarantees that a party fulfills their court-ordered obligations during a legal proceeding. This includes Judicial Bonds, which are used in civil lawsuits permitting pursuance of certain remedies in court, and Probate & Fiduciary Bonds, which are required when someone is appointed to manage another person’s estate or affairs.
COURT BOND
Guarantees the performance of obligations required by permits, state law, or municipal ordinance; protects the public and governmental entities from financial losses arising from the failure of a contractor to fulfill obligations. Examples include: Contractor License, Motor Vehicle Dealer, Mortgage Broker, and Tax Bonds.
LICENSE & PERMIT BOND
LICENSE & PERMIT. COURT. PUBLIC OFFICIAL. MISCELLANEOUS. ERISA. BUSINESS SERVICE BONDS.
COMMERCIAL BONDS
CONTRACT BONDS
COMMERCIAL BONDS
surety Portal
BONDS INSTRUCTIONAL
SURETY PORTAL
- Purchasing a Commercial Bond
- Printing an Approved/Quoted Bond
- Performing a Non-Premium Bearing Rider
- Uploading Documents
- Checking the Pending Bonds Queue
LICENSE & PERMIT, COURT, PUBLIC OFFICIAL, MISCELLANEOUS, ERISA, BUSINESS SERVICE BONDS
- Entering a Contract Bond
- Converting a Bid Bond to a Performance/Payment Bond
- Adding an Obligee
- Checking the Pending Bonds Queue
- Marking Bids as Lost
- Issuing a Consent of Surety
- Performing a Non-Premium Bearing Rider
COMMERCIAL BONDS
CONTRACT BONDS
BID, PERFORMANCE AND/OR PAYMENT, SUPPLY, MAINTENANCE BONDS
Once complete, the name of the individual will appear as AIF in e-SURETY.
Each attorney-in-fact (AIF) using our Surety Portal will need a My Silver Lining login. The agency administrator or West Bend regional sales manager (RSM) has the authority to add users. Subsequently, the agency administrator, RSM, and bond underwriter have the authority to designate attorneys-in-fact.
On the home page of My Silver Lining, choose “Bonds” on the side bar to access the Bonds home page.
Select the “Attorney-in-Fact” link in the Bonds Tools & Resources to view the list of all agency employees with login credentials. Check the boxes of those who should be included as AIF and click “Save.”
1
2
3
AIF POWER OF ATTORNEY SET-UP
(Agency Administrator)
To access the Surety Portal: On the Bonds home page of My Silver Lining, click the link at the top of the screen, "Access eSurety," which brings you to the Surety Portal.
CONTACT CARDS
CONTACT CARDS
- ARIZONA
- ILLINOIS
- INDIANA
- IOWA
- KANSAS
- KENTUCKY
- MICHIGAN
- MINNESOTA
- MISSOURI
- NORTH CAROLINA
- OHIO
- SOUTH CAROLINA
- TENNESSEE
- VIRGINIA
- WISCONSIN
- ARIZONA
- IOWA
- ILLINOIS
- INDIANA
- KANSAS
- KENTUCKY
- MICHIGAN
- MINNESOTA
- MISSOURI
- NORTH CAROLINA
- OHIO
- SOUTH CAROLINA
- TENNESSEE
- VIRGINIA
- WISCONSIN
BOND TERRITORY
West Bend is licensed to write bonds in all 50 states.
BOND
SUMMARIES
BY STATE
TERRITORIES
SUMMARIES
RAPID BONDS
A.M. Best Rating: A
Financial Size Category: XIV
Treasury Listing:
in excess of $150,000,000
