It is well established law in most states that a standard fidelity bond does not cover an insured’s liability to a third party, even though an employee’s dishonesty is what sets into motion a chain of events culminating in that liability. … Continue Reading →
Have you misplaced a money order, bank check or cashiers check and need a replacement? The issuing bank will likely ask you for a lost instrument bond. This type of indemnity bond is written in a fixed amount, referred to… Continue Reading →
In Alabama all auto dealers (new and used) must provide a motor vehicle dealer bond. If the licensee sells new cars on a retail lot, then the auto dealer bond requirement is $25,000. If the licensee sells used cars or is a… Continue Reading →
A plaintiff in a civil case may request that the court order an injunction, preventing a defendant from engaging in certain activities. If such order is granted the court will likely require an injunction bond. An injunction bond is a… Continue Reading →
An essential part of any landfill financial plan is a provision for financial assurance of closure and post-closure activities. A landfill bonds or landfill surety bond is the most popular instrument for guaranteeing a landfill’s ability to meet its long… Continue Reading →
It might seem strange that a “railroad” commission regulates oil, gas and mineral exploration, however that is how it works in Texas. Petroleum operators, coal miners, uranium and mineral explorers must all provide reclamation bonds. Texas surety bond forms are… Continue Reading →
As we have stressed in previous blogs, if you sponsor a defined benefit plan or act as a plan fiduciary you had BETTER make sure that you have an adequate ERISA fidelity bond. So what happens if your plan gets… Continue Reading →
As per California Code 34510.5. (a) (1) A broker of construction trucking services, as defined in Section 3322 of the Civil Code, shall not furnish construction transportation services to any construction project unless it has secured a surety bond of not less than fifteen… Continue Reading →
The Employee Retirement Income Security Act of 1974 (ERISA), enacted on September 2, 1974. ERISA is federal statute which establishes minimum standards for pension plans in private industry and provides for extensive rules on the tax effects of transactions associated with employee benefit plans. ERISA… Continue Reading →
In North Carolina, lost, defective and imperfect motor vehicle titles can be remedied by purchase of a vehicle indemnity bond. The Department of Motor Vehicle requires a surety bond equal to or greater than one and one half times the… Continue Reading →
The Oregon Department of Transportation requires all commercial motor carriers with a gross weight of over 26,000 pounds, to report and pay highway use taxes and provide an Oregon highway use tax bond. New operators must provide a highway use… Continue Reading →
In certain states wrecker services and vehicle crusher operations must provide a dismantler surety bond. This type of bond guarantees compliance with the laws and codes which regulate the dismantling service. In some jurisdictions significant civil penalties can be assessed… Continue Reading →
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