Specialty Programs
Construction Contract Bonds Under $250K
Approval of most construction contract bonds under $250,000.00 can be obtained without providing business or personal financials statements or tax return. In most cases, all we need is a simple personal credit report. In addition, in most cases we can give you a quote the same day or within 24 hours of submission. This program is extremely convenient for small contractors that do not have an on going bond program or that would not qualify financially otherwise.
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Texas P-5 Bond Program (Texas Railroad Commission)
A P-5 Bond is an operator's plugging bond required by the Texas Railroad Commission for your P-5 filing. As a result of our significant industry experience and relationships within the Texas Railroad Commission, SPS has successfully developed a P-5 bonding program with an A+ rated national surety. SPS previously established the most successful bonding program in Texas previously and has not brought an even better and more established surety to the market.
A bond will allow you to avoid providing the Texas Railroad Commission with a cash deposit or irrevocable letter of credit, which can help you maintain your cash and preserve your credit. After all, an ILOC or cash deposit creates a check writing feature for the TRRC and offers zero protection for you, your company nor your assets.
We understand your business and the unique needs of the producer. Now we want to develop a relationship with you. Through our simple application process we can typically provide you with a bond quote within 24 hours.
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