SURETIES

Mitigate Payment Risks

In the increasingly competitive surety market, the ability to manage reasonable work programs and bond credit for contractors has grown more difficult. Sureties face mounting pressure to approve larger bond sizes and overall programs with increasing limitation on their ability to mitigate risk.

Great Horn’s process was developed in 1996 by surety professionals and honed by contracting professionals to maintain optimum mitigation of payment risk throughout every phase of a periodic draw schedule. The Great Horn model is designed to be a productive partner in the management of a contract by minimizing the intrusion into the contractor’s ability to manage their project.

The Great Horn process allows a contractor fair and predictable access to funds for job expenses and profit, while eliminating the ability of a contractor to mingle contract proceeds, capture overbillings, or front-load a project to supplement cash shortfalls elsewhere in their business.

By using an effective funds control tool, a surety can convert lost opportunity and safely maintain or enhance their partnerships with good contractors.