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 →
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 →
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 →
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 →
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 →
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 →
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 →
The Hemp Farming Act of 2018, part of the larger Farm Bill effectively ended the prohibition on hemp cultivation, marketing and distribution. The Hemp Farming Act reverses a prohibition that has stood since the Marijuana Tax Act enacted in 1937,… Continue Reading →
Pawnbrokers are considered a form of financial institution and are regulated as one. A pawnbroker surety bond is currently required by approximately twenty states and many municipalities. Generally the surety bond amount is small and guarantees only that the pawn… Continue Reading →
A financial statement is the most important data source for the surety bond underwriter. Although there are a myriad of factors that influence the contract surety bonding underwriter’s judgment of a contractor’s qualifications (financial and otherwise), the financial statement is… Continue Reading →
Recent legislation and the delisting of hemp from the federal drug control schedules has prompted the legalization of hemp cultivation in Georgia, although the activity will be tightly restricted at inception. A Georgia hemp processor surety bond will be required…. Continue Reading →
As of the new year 2019, the Center for Medicare and Medicaid Services will require dentists that provide durable medical equipment and which participate in a CMS billing program to file a DMEPOS surety bond with the Center. Currently the… Continue Reading →
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