Contract Surety
Contract Surety
Our core business is working with small and midsize contractors. We will consider accounts that only have internal financial statements and we will use funds control and collateral where appropriate to provide surety support to an account.
Emerging Contractors
Lexington National’s Fast Track program allows for bonds up to $500,000 to be written quickly and easily. The Fast Track program is excellent for small and emerging contractors.
Testimonials
Underwriting Team
LNIC Rapid Express - $500,000 Subdivision Application
LNIC Rapid Express - $750,000 Application
LNIC Surety Marketing Information
Contract Surety Bonds Frequently Asked Questions
About Lexington National
Who is Lexington National Insurance Corporation?
Lexington National Insurance Corporation is a Florida domiciled insurance company with administrative headquarters in Maryland. We are licensed in all states and DC to underwrite surety bonds, including contract, commercial, and bail bonds.
What is Lexington National’s financial rating?
Lexington National is rated A- (Excellent), Size V by AM Best, and we are included on the U.S. Department of the Treasury’s list of approved sureties.
What types of surety bonds does Lexington National write?
We offer a full range of surety products including contract surety bonds (bid, performance, payment, and maintenance bonds) and commercial surety bonds (license, permit, and miscellaneous bonds).
About Our Contract Surety Program
What size contractors does Lexington National focus on?
Lexington National specializes in small and midsized contractors. We understand that many capable contractors need a surety partner who will take the time to evaluate their potential not just their balance sheet.
What makes Lexington National different from other sureties?
We are flexible, accessible, and relationship driven. Unlike large institutional sureties, we pride ourselves on responsiveness and creativity. We take a commonsense approach to underwriting and work collaboratively with producers to find solutions that help contractors grow.
What types of projects does Lexington National support?
We support general, trade, and specialty contractors engaged in public and private construction. Typical projects include infrastructure, building, renovation, and specialty trades such as electrical, plumbing, and mechanical work.
Underwriting Approach
How does Lexington National evaluate contractors?
We look beyond the numbers. While we review standard financials balance sheets, income statements, work in progress schedules, and bank references, we also consider the contractor’s experience, character, capacity, and commitment to project success.
Will Lexington National consider newer or less established contractors?
Yes. We understand that many skilled contractors are still building their financial base. Lexington National is willing to work with developing contractors using supportive tools such as: SBA Surety Bond Guaranty Program participation, collateral arrangements, and funds control (thirdparty disbursement oversight). These tools allow us to provide bonding capacity for contractors who might not yet qualify with traditional sureties.
What information is needed to get started?
We typically request a completed contractor questionnaire along with personal financial statements, business financial statements, work in progress schedule, bank line of credit information, work history, job references and resumes of key personnel.
Program Details
What is the maximum bond size or aggregate capacity Lexington National will consider?
We can issue single bonds up to $7 million and aggregate work in progess on bonded projects up to $14 million. Those limits will increase to $9M/$18M in 2026.
Does Lexington National use the SBA Surety Bond Guaranty Program?
Yes. Lexington National is an active participant in the U.S. Small Business Administration (SBA) Surety Bond Guaranty Program, which allows qualified small contractors to obtain bonding even if they do not meet traditional underwriting standards.
Does Lexington National require collateral or funds control?
In certain cases, yes. For contractors with limited working capital or challenging credit, we may use collateral (such as cash, letters of credit, or liens) or funds control to manage project cash flow. These measures help secure performance and enable us to support contractors who might otherwise be declined elsewhere.
Partnering with Lexington National
What does Lexington National look for in a bond producer?
We value long-term relationships with experienced bond producers who understand their contractors and share our commitment to growth, service, and accountability. We provide direct access to our underwriting team and encourage open communication.
How quickly can Lexington National respond to bond requests?
Very quickly. We know time is critical in the contracting business. Once we have a complete submission, we will respond within 24 to 48 hours. For established accounts, turnaround is the same day.
How can I get appointed as a producer with Lexington National?
If you’re interested in representing Lexington National, please contact us at
Email: tim@lnic.com | Phone: 443-800-5705