See the file the way the surety will.
Before you send it.
Drop in the year-end, the interim, the WIP and the agings. Surety Minds restates the balance sheet the way an underwriter would, writes the reason beside every adjustment, and drafts the read you take to market. You walk in knowing the answer, and the argument.
Most surety submissions are analysed twice.
A typical file holds a year-end statement, an interim, a WIP schedule, A/R and A/P agings and a bank letter, each in its own format. The broker spreads it by hand and submits it. The underwriter then adjusts it to surety standards and comes back with the questions that could have been answered before the file went out.
Typical time to a decision when a file goes back and forth before it is complete.
The surety adjustments that change the program are usually found by the underwriter, after the file is submitted.
Each producer spreads and adjusts statements in their own spreadsheet, so results vary from one file to the next.
Do the underwriter's arithmetic first. On your side of the table.
Year-ends, interims, WIP, agings, bank and indemnity agreements, even the client's email thread. Recognised and read on arrival.
Every line a surety would discount is discounted, with the reason written beside it. Group companies combined, inter-company balances netted.
The underwriting read, the placement memo, the cover note to the underwriter and the chase to the client, all drafted from the file.
A folder of documents becomes a carrier-ready file in minutes, not days.
And you can defend every number in it.A bookkeeping tool totals the balance sheet. A surety tool questions it.
Surety Minds applies the treatments an underwriter applies, shows its working line by line, and lets you override any of it. Your judgement wins, and the override is recorded.
- Related-party advances come off net worth unless they reconcile inside the indemnity group.
- Over-90 receivables are judged across two agings, client by client: stale and still open is written off, newly aged moves to long term, a holdback stays current.
- A reclass is not a write-off. One costs working capital, the other costs net worth, and the two are kept apart.
| Line | FYE 2024 | FYE 2025 | Change |
|---|---|---|---|
| Revenue | $32.5M | $35.8M | +10% |
| Gross profit | $5.40M | $6.20M | +15% |
| Gross margin | 16.6% | 17.3% | +0.7 pts |
| Overhead, net | $3.88M | $4.32M | +11% |
| Net income | $1.52M | $1.88M | +24% |
The read written beneath it: “Overhead grew 11% against revenue growth of 10%. They are absorbing volume without adding proportional cost, and it drops straight to net.”
Contractor financials are the most confidential papers in this business.
Indemnitor statements carry personal information your firm is obliged to protect. We answer your compliance person's questions before they ask them, in plain terms and in the agreement, not the brochure.
Ten producers. Real files. The truth every two weeks.
We are working with a small group who put their own accounts through it and tell us where it's wrong. Founders are treated as co-builders, and their pricing reflects it.
Twenty minutes, on one of your own accounts.
Bring a file you already know the answer to. Watch it become a submission. Then tell us where we're wrong.