Financial Profile FAQs
What does the “backlog” field refer to?
Backlog refers to contracts that you have been awarded but work has not yet been performed (upcoming projects). Entries in these two fields identify the current backlog (value of contracts in place that have not yet begun) and average annual backlog (typical/average backlog each given). If you don’t have a backlog, enter zero’s and click the ‘No Letter Available’ box.
In the Work in Progress section what does “% of assets allocated” refer to?
Percentage of assets allocated refers to the percentage of your company’s assets, including workforce/equipment/management, that is dedicated to a project that is in progress.
What is ‘FSC’ in the Surety/Insurance tab?
FSC stands for Financial Size Category. Each Surety Broker, along with their rating, is assigned a Financial Size Category by A.M. Best Rating Services. Contact your Surety Broker to get their FSC or refer to your surety letter, as the FSC is often identified in that letter. FSC’s are identified by roman numerals from I through XV.