Monday, December 7, 2009

SIF Announces New Program to Improve Contractor Cash Flow

The S.C. Home Builders Self Insurers Fund announced that is can now accept a surety bond in lieu of the 25% cash deposit currently required. This new program is available to both new and current members of the Fund.

Bond approval is subject to applicant’s credit score and/or financial position. For example: assuming you qualify for the bond, and your 25 percent deposit is $5000, your annual bond premium will be $250. As a result, the cash demanded of the contractor for his or her workers comp insurance will be reduced by $4750.

Contact your SCHBSIF insurance agent for more detail on your specific situation. Search for member insurance agents at

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