American Subcontractors Association Michigan
November 2009 General Membership Meeting
Bonding, Surety and Banking: What is Happening and Why it Matters to You
Fred Lake, Huntington Bank
Jon Lunderberg, HUB International
Jon Lunderberg (HUB International) and Fred Lake (Huntington Bank) spoke on “Bonding, Surety and Banking: What is Happening and Why it Matters to You.” Jon Lunderberg took a look at the economy and spoke about a contractor’s relationship with its bonding company. He also provided a list of action steps that contractors can take to enhance their bonding programs. Fred Lake spoke about the current banking environment, including what regulators are focusing on and what banks are doing as a result. He explained what this means to borrowers and provided a list outlining what borrowers can do in such an environment.