Surety Bonds for the Blasting Industry

There are classes of construction (and destruction) business for which surety bonds are readily available. Most surety companies prefer bonding jobs that they consider “sticks and bricks”. Unfortunately, that leaves many professional contractors that might offer specialty services in a… Continue Reading →

Performance Bonds for Electrical Contractors

Surety bond underwriting contemplates two major classes of bond; commercial surety bonds and contract surety bonds. General contractors are by far the most frequent requestors of the latter which are generally purchased to guarantee the completion of construction projects. Underwriters… Continue Reading →

A Business Services Bond Gives Third Party Fidelity Bond Protection

A business services bond is a type of commercial crime coverage, sometimes referred to as a dishonesty bond which is narrowly written to cover the third party perils of specific types of businesses. Many professional and occupational service providers conduct… Continue Reading →

Contract Surety Bonds in the Times of Coronavirus

Grace Winkler Cranley and Michael J. Weber, counsel and partner with Dinsmore & Shohl LLP, have penned a great piece on the “novel scenarios” that this new “novel virus” has presented surety companies, contractors and project owners. The eight hundred pound gorilla… Continue Reading →

NVOCC Bond for Ocean Transport Intermediaries

Although ocean transport intermediaries form a small group of shipping professionals, there is a brisk demand for NVOCC bond and OFF bond capacity. Applying for the ocean freight forwarder (OFF) or non-vessel operating common carrier (NVOCC) licenses can be less… Continue Reading →

Performance Bond Capacity and Healthy Work on Hand

Contract surety bond underwriting is an art however the artist must also be an analyst. Analyzing the financial condition of a bond principal does not admit creativity. In fact, being “creative” with the numbers is a strict no-no. Coupled with… Continue Reading →

A Reclamation Bond Should be the Preferred Financial Assurance

An interesting article by Kayla Desroches (Report Raises Concerns Over Who Pays For Coal Mining Cleanup), raises concerns about the lack of reclamation bond coverage of mining operations in the State of Montana. Kayla reports, “. . . one of… Continue Reading →

Internal Controls Are a Fidelity Bond Must

A fidelity bond, also known as a commercial crime policy provides excellent protection to business and government entities that employ persons with money or other things of value under their control. Fidelity bond underwriting largely focuses on the implementation of… Continue Reading →

Fidelity Bond for Credit Unions (NCUA Rule Change)

Many financial institutions must comply with fidelity bond requirements. Both corporation credit unions and natural person credit unions are no exception. A new Rule recently adopted by The National Credit Union Association made some changes to the fidelity bond instruments that… Continue Reading →

La Fianza en la Construcción

Por medio de la fianza, contratistas pueden acceder al mercado de obras públicas y proyectos más grandes, así mejorando sus ofertas y rentabilidad. Un artículo por el  licenciado Israel O. Alicea, se trata del mismo “Todo sobre las fianzas en proyectos… Continue Reading →

Performance Bond Claim, the Bonding Company Steps In

Construction is an inherently risky business. Even the best general contractor can experience difficulties. For that reason surety bonds are required on large and public projects. A performance bond generally guarantees that a general contractor (the “principal”) will complete a… Continue Reading →

Fidelity Bond Could Have Covered $3mn Dishonesty Loss

A fidelity bond (commercial crime coverage) is generally an inexpensive insurance protection when unexpected losses occur due to employee theft. A recent case example was reported by Matthew LeBlanc of the Journal Gazette. “An Auburn man, his sister and her… Continue Reading →

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