Surety Blog

When you're taking an irrevocable letter of credit (ILOC) for collateral on an account, and that account says that they don't have the money but can get a 3rd party investor. On the ILOC format [...]

Sometimes when a CPA statement is not available, a bond company may condition a bond with Escrow Funds Control. Escrow Funds Control is like you hiring a money manager for a specific project. You will [...]

As all commerical contractors know it's a necessity to obtain surety bonding. We are seeing more and more jobs requiring bonding today. Public entities require bid and performance bonds for their projects and General Contractors [...]

Those in the business of selling used cars in the state of New York will need to comply with new surety bond requirements in the spring of 2017. The car dealer bond is part of [...]

Big changes at the state level make now a good time to evaluate your dealer bond costs and requirements. May 2017, F&I and Showroom - Feature by Jason O'Leary The commercial surety bond market experienced [...]

#1: What is a Performance Bond? A Performance Bond is a surety bond guaranteeing a contractor will complete a project according to the term delineated in the contract. Performance Bonds offer a protection to taxpayers, [...]

The number one issue construction contracting companies will face over the next 10 to 20 years is succession planning, according to accounting firm BKD, LLP. As the amount of wealth in the nation transfers generations, [...]

Every day, millions of dollars in claims are paid on surety and fidelity bond payments. Despite this, subrogation in this area remains mired in obscurity and confusion, and claims handlers rarely consider the positive effects [...]

IT IS A truism that construction is a risky business. Construction contracting is an exercise in dealing with these inherent risks. One common way involves allocating these risks among the various project delivery team members. [...]