Asphalt Pavers can have a significant need for performance bonds. They are considered heavy contractors and the nature of their business presents unique risks and opportunities for surety bond companies. Here are some considerations for providing construction bonds to asphalt contractors. Asphalt Contractors May Be Light on Working Capital Most surety bond companies are working […]
Understanding how surety bond underwriters look at trusts can have a significant impact on Bond Principals and the surety bond capacity they can obtain. Here is more information about how underwriters view surety bonds and trusts. What are Trusts? A trust is a legal, fiduciary arrangement where assets are held by a third party for […]
Many commercial contractors in Arkansas need an Arkansas contractor license bond. The state has different requirements for these Arkansas Contractor License Bonds depending on what type of work the contractor performs and what size the projects are. Classifications of Arkansas Contractors Arkansas separates contractors into four different classifications for licensing purposes. These are: Commercial License […]
School Bus Performance Bonds guarantee a contract to provide busing services to school districts. We often do not think much about school buses, so long as they are transporting children safely. However, contracts for school bus services are often very large and surety bonds ensure that the public’s money is protected and that bus services […]
What are International Surety Bonds? Well that depends on where you call home. Although we have customers and readers around the world, our headquarters is in the United States. This article writes international surety bonding from that perspective. International surety bonds include a wide variety of common surety bonds including the following: • Construction Bonds […]
Personal Protective Equipment or PPE is in high demand. Many public and private entities are placing large orders for supply of PPE and are asking the suppliers to provide Bid Bonds, Performance Bonds or Supply Bonds guaranteeing the delivery of these products. Unfortunately, many manufacturers of PPE products have never been asked for surety bonds […]
A Release of Mechanic’s Lien Bond can be an effective tool for Project Owners and Contractors alike. They can also be confusing and misunderstood by all parties. In this article, you can learn what you these surety bonds cover and how to get one. A mechanic’s lien is a valuable tool for contractors and material […]
Often when lawn mowing companies make the jump to public work, they are not sure what a mower performance bond is or how to get one. There are things that can make these bonds tricky, but most contractors should have very little trouble. The weather is warming up, the grass is growing and below is […]
Did you know that the Small Business Administration has a program for surety bonds? The program is called The Surety Bond Guarantee Program or SBG for short. The SBA itself is not a surety bond company. However, in the program the SBA will guarantee that if a surety bond company does suffer a loss, the […]
What is in a single word? Well a lot if you are a contractor expecting to be paid for your work. Contingent Payment Clauses are very important to surety bond underwriters and they should be to contractors as well. Receiving payment is vital for every for-profit business. This is especially true in construction because contractors […]