Preparing Financial Documents

The core set

• Audited financial statements for the latest two to three fiscal years, with the auditor's report and notes intact.
• Interim financial statements where the audited figures are more than a few months old.
• Income tax return filed with the BIR, matching the audited statements.
• Bank certifications or statements evidencing available lines and balances.

Supporting schedules that help

• Aging of receivables and payables.
• Schedule of ongoing projects with contract value, percentage complete, and remaining balance — your backlog.
• Schedule of completed projects with obligees and values.
• Equipment list, for construction contractors.

What underwriters read from them

• Working capital — current assets less current liabilities — indicates capacity to fund work in progress.
• Net worth relative to the requested bond amount indicates the scale of exposure the balance sheet can support.
• Leverage and receivable quality indicate how much of reported equity is realisable.
• Backlog shows how much capacity is already committed.

Presentation matters

• Submit complete PDFs, not partial pages or photos of pages.
• Keep names consistent across registration documents, financial statements, and the application.
• Explain unusual movements up front — a one-off loss with a written explanation reads better than an unexplained gap.
• Label files clearly so reviewers do not have to guess.

Where this fits

A complete, internally consistent financial package is the single biggest lever on turnaround time. It does not guarantee approval — that decision belongs to the authorized issuing insurance company.