Date Published: April 6, 2021

Occasionally, established contractors that do not do bonded work in normal course of business are asked to provide performance and payment bonds. One issue that sometimes arise in thesePerformance Bonds Without CPA Financials situations is the contractor does not engage a construction oriented CPA to provide review quality financials statements.   Performance bonds without CPA financials on a small scale may not be much of an issue, however, once the bond size grows beyond $750k to $1mm, lack of CPA prepared financials will make it difficult to secure the bonding. Surety1 represents several markets that are addressing this niche. With what is commonly referred to as a total net worth program, sureties are providing performance and payment bonds, sometimes in excess of $2mm, without CPA prepared financials.

These programs are best suited for established contractors with successful track records who may have had difficulty bonding simply because they lacked CPA-prepared financials. By supporting single bond requests 0f  $2 million or more within an aggregate of up to $5 million, these net worth programs can fulfill the demands of modern contractors whether they have occasional or recurring bonding needs.

The underwriting information requirements are simple. In most cases all the surety will need is:

1. Complete Contractor Total Net Worth Program Questionnaire.
2. Provide a personal financial statement.
3. Provide two years of personal and business tax returns.

Performance Bonds Without CPA Financials with Total Net Worth Underwriting programs

Most contract bond programs require that contractors meet a lengthy underwriting checklist including a current CPA-prepared financial statement. The Net worth underwriting programs are based on the premise that applicant’s ability to accumulate significant personal net worth can be equally indicative of his or her qualifications. With less documentation required upfront, you can save time by doing less paperwork while also being approved faster.

About Us is a service of AssuredPartners one of the largest and fastest growing insurance and bonding agencies in the nation. is the premier online provider of surety bonds nationwide since 2003.

Visit our performance bond page by clicking here. 

Learn More About the underwriting of performance and payment bonds:

Have any questions about the performance bond underwriting process? 
Powered by Formstack



How to Get Bonded

1. Apply Online
Using our Free & Secure Application
2. Get Your Free Quote
Applications are No-Obligation
3. Get Your Bond
Most Bonds are Approved in 1-2 Business Days

Surety Bond Experts

Surety1 was founded in 2003 and helps thousands of clients find the best prices on their surety bonds. We take pride in our work so that we can give you great service. Learn more about Surety1.

Get started with the bond application process today.

Most bonds are fully processed within 1-2 business days. In some cases, you'll hear back from Surety1 within hours!