Surety Bonds in Public Construction The importance of surety bonds in public construction work is a cornerstone of modern infrastructure development, serving as an indispensable risk management tool that safeguards public funds and guarantees project delivery. In an era of… Continue Reading →
In June of this year, a demolition contractor hired to remove the Regency House Building in Texarkana, inadvertently brought down an adjacent building. The contractor had been required to offer a bond however, a demolition contract performance bond will not… Continue Reading →
Contract surety bond approvals should be easier. One of the most frustrating parts of being a contract surety bond underwriter is having to decline bonding capacity to a contractor that you feel possesses the prerequisite experience, expertise, character and financial… 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 →
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