Contract Surety Bonding
This law has been on the books for a LOOOOOONG time and its not news to contractors, CPAs and attorneys who deal with contract surety bonding on a day to day basis. We came across this very good piece wanted… Continue Reading →
Bottom line, tax returns are NEVER acceptable financial reports when applying for contract surety bonding. Except for very small bond requests a contract surety underwriter will require one more years of proper financial statements prepared by a certified public accountant… Continue Reading →
As a surety-specific agency with a national footprint we numerous requests for “bid bonds” each day. Contractors who have dealt with corporate sureties are aware of what these are however many new and smaller construction and commercial services contractors do… Continue Reading →
The Small Business Administration’s (SBA’s) Surety Bond Guarantee Program was designed to increase small businesses’ access to federal, state, and local government contracting, as well as private-sector contracts, by guaranteeing bid bonds, performance bonds, and payment bonds for individual contracts of $2 million… Continue Reading →
Because bid bonds as small, usually 2.5% to 10% of the total project proposal, it would seem simple for a surety company to just just charge a fee and issue them. So why don’t we write them freely? The answer… Continue Reading →
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