Merchant's Difference
Merchant’s headquarters is here
Where is Des Moines, Iowa?
The party to whom the principal owes an obligation
who is the obligee?
This is the preferred method of financial reporting
what is CPA statement?
includes an idividual's or business entities moral and ethical attributes
what is character?
Instrument that is a financial guarantee that a contract will be performed
what is a performance bond?
The merchant’s slogan
What is “Common sense underwriting”?
Recommendation of a responsible line of surety credit is the surety _____’s primary responsibility
Who is the producer/agent?
An unaudited financial statement based on management provided information
what is a compilation?
The make up a contractor's _____- work in progress, credit reports, performance record, continuity, bank reports
what is capacity?
Obligations under this type of bond are created by state statute or local ordinance and are for the benefit of taxpayers to prevent them bearing the burden of site improvement construction
what is a subdivision bond?
This is the credit score measurement for our RAP Program
What is 675?
The party that guarantees fulfillment of the principal’s obligation to the obligee
Who is the surety?
This report calculates the progress of all ongoing work for a contractor.
What is a WIP?
A bank instrument that contractors are allowed to borrow money from
what is a bank line of credit?
An alternative to a bid bond
What is a cashier's check?
The year Merchants was founded
What is 1933?
Type of entity that pays taxes itself and is not passed through to the owners
What is C Corp?
An accounting technique that estimates profits on partially finished construction projects
This is the measure of the contractor’s financial ability to assume the risks of business activity
what is capital?
This guarantees that faulty work will be corrected and the defective materials will be replaced
what is a maintenance bond?
If this ratio is above 3:1, Merchants believes we should proceed with caution
What is debt to worth?
Type of entity that elects to be taxed as partnership, and taxes flow through to its members
What is an LLC
This statement measures the contractor’s financial results over a period of time
what is a cash flow statement?
The measure of the firms liquidity
What is working capital?
A bond that guarantees the delivery of designated items according to specifications
What is a supply bond?