Surety Bonding
Broker Referral Network
MBDI is proud to announce an important new initiative to benefit both the minority contractor participant and surety brokers and agents. Working with a network of surety agents, surety underwriters, and past program participants, MBDI is developing a comprehensive listing of surety broker/agents that will form a Broker Referral Network (Network) for emerging contractors.
The Network will be categorized by geographic region and listed on the MBDI website. MBDI will ask Network members to provide brokering services to program participants. The Network will be comprised of brokers who have indicated a strong interest in allocating the significant investment of time and resources that emerging contractors often require to get to their first bond, and are dedicated to the challenge. The initial bond needs for an emerging contractor often do not generate enough commission income to make it financially prudent for an established broker to pursue. However, as with the surety underwriter, brokers who make this investment may be rewarded with a long-term client that continues to grow and generate more income over time.
We welcome interested surety brokers/agents to be a part of this exciting new network by completing the Broker Referral Network Application, and the required corresponding Hold Harmless Agreement. The Broker Referral Network Application may be completed via our on-line submission form. If you prefer, please download and complete the form and send by mail or fax as indicated below.
The required corresponding Hold Harmless Agreement must include an original signature and is not available as an on-line submission form. Please download and complete the form and send to us by mail or fax as indicated below.
Minority Business Development Institute
306 Farnsworth Avenue
Suite B
Bordentown, New Jersey 08505
888-614-7712 fax