The following updates have been made to the Contractor Bond Portal, and can be seen on the portal effective immediately:
Accounts on the portal can now be renewed without having to submit the account as new again. All information that was submitted on the initial account set up is now retained, saving duplicate entry efforts. Only the financial information on the account has to be updated to renew the facility.
When an account is up for renewal, you will be notified by your local underwriter. You may also simply log into the portal to see what is coming up for renewal under the ‘Accounts’ tab. To renew an account, simply:
- Open the account
- Click the Renew button (shown on the right)
- Review & complete the application form questions
The account will be submitted through Trisura’s underwriting engine again to determine if the account is approved for the upcoming term.
Accounts are able to be renewed up to 1 year after the account goes DORMANT – that doesn’t mean the account is in good standing and bonds can be applied for. It means that the account can be submitted through the portal up to 1 year after dormancy.
Closing Bid Bonds
Bid bonds can now be closed without having to upload any documentation. Simply open the bid bond that needs to be closed and click “Close Bond” under the “What Can I Do Here?” section to close the bond.
Closing bid bonds will close out the balance that goes towards the account’s total limits.