The state statute that obligates contractors to provide bonding, RCW 18.27.040 (1) has been amended to require increased Washington contractor license bond penalties. Effective July 1st of this year, the minimum surety bond amounts required from both Specialty and General… Continue Reading →
For decades a North Carolina general contractor license bond has been out of reach for the large majority of license candidates have not been able to obtain bonding for lack of financial statement strength and because of the onerous terms… Continue Reading →
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 →
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