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Washington Contractor License Bonds

Contractors in the State of Washington are required to be licensed and have a Washington Contractor License Bond. Each contractor must register with the Department of Labor and Industry (L&I) to perform work. They must also post a Washington Contractor License Bond and evidence of insurance to protect the public. What Does a Washington Contractor […]

Surety Bonds and Municipal Bankruptcies

Municipal bankruptcies could have a negative impact on contractors and their surety bonds. COVID-19 has presented challenging times that are unprecedented in modern society. Unfortunately, those impacts are being felt by everyone. Unemployment is skyrocketing as businesses are forced to shut down for extended periods of time. These impacts are also having a major detriment […]

Oil and Gas Bonds After COVID-19

Oil and Gas Surety Bonds could be headed for a hard market. Many industries are struggling to deal with COVID-19 (Coronavirus) and the current economic crises. The oil and gas industry has been hit particularly hard. Self quarantine orders in much of the world has led to a significant decrease in demand. Meanwhile, many countries […]

Demolition Contract Surety Bonds

If you have ever watched a home improvement show, you know how excited the producers get over the demolition. In truth, most demolition contracts are much more complicated than throwing a sledgehammer through some drywall. On a commercial project, it is a heavily planned and important part of the overall job. Often, these contractors need […]

Performance Bond and Payment Bond Case Study

Although residential construction is rarely bonded, we are going to look at a case study of what it may look like to provide a performance bond and a payment bond for a high end home build. Our completely made-up couple, “The Bradys” are looking to build a very expensive custom house and will require the […]

Janitorial Bonds and Cleaning Contracts

Janitorial Bonds are often needed to guarantee the cleaning services of large government buildings, educational facilities and even private properties. COVID-19 is taking a dire toll on the world economy and putting a major strain on most businesses. One industry that has seen demand spike, however is the commercial cleaning industry. In fact, one report […]

Performance Bonds and The Coronavirus

  As the Coronavirus (COVID-19) continues to expand around the United States and the World, it may only be a matter of time before U.S. construction projects and possibly contractor performance bonds are also affected by the virus. We know that performance bonds guarantee that a project will be completed by a contractor according to […]

The “3 C’s” of Contract Bond Underwriting

Hello and welcome back to Work In Progress. My name is Ben Williams with MG Surety Bonds and this is our show dedicated to surety bonding and all things construction. Today we’re going to be giving you some insight into contract bond underwriting so you can make yourself more bond-able. Specifically, we’re going to talk […]

Contractor Bonds – 4 Easy Tips for Increasing Surety Bond Capacity

Hello and welcome. My name is Ben Williams with MG Surety Bonds. And this is our show, Work In Progress dedicated to surety bonding and all things construction. Today we’re going to give contractors four easy tips for increasing their bond capacity. Let’s get started. One thing we get asked by contractors of all sizes […]

Georgia Contractor License Bond

Contractors in Georgia usually need a license and a Contractor License Bond to perform construction work in the state. It is the Georgia Board for Residential and General Contractors that is responsible for regulating and licensing individuals and businesses.