A guardianship bond is when a court appoints a person (the guardian) to take care of the affairs of another person (known as the ward). The guardian is entrusted with taking care of the ward’s personal and financial affairs. Sadly, this does not always happen. One sometimes hears of cases where a guardian abuses their power […]
Read moreAs many people may know, a surety bond is a written agreement guaranteeing the satisfactory performance of a contractual obligation. This agreement provides for monetary compensation in the event that a principal fails to accomplish the job per specifications in the bond. There are many who may confuse surety bonds with insurances. They may think […]
Read moreAlthough surety bonds are becoming more common in society, many people are not familiar with them. Yet, surety bonds are an important safeguard and/or necessity for many business owners, companies, federal and state government agencies. Bonds can play a very crucial role in business. They can protect a business and create trust when dealing with […]
Read moreIt is important to know how to avoid claims in order to protect your business. Therefore, in order to avoid claims, especially false claims, it is important to work with a surety bond producer who is knowledgeable and competent. To review, a claim is when a client makes a formal accusation against due to their assertion […]
Read moreChoosing a surety bond producer that is competent and knowledgeable could save your business a good amount of money. In past Facebook posts, we’ve briefly mentioned the benefits of choosing a surety bond producer who is knowledgeable and competent in order to make sure that you get the correct bond with all the t’s crossed and […]
Read moreWe started a conversation on our Facebook page the other day about the differences between surety bonds and subcontractor default insurance. We wanted to delve in a little more to help you decide if a subcontractor default insurance (SDI) or surety bond is the best way to protect your business. SDIs have become popular since […]
Read moreA Work in Process schedule (WIP) helps contractors document the progress of their project. A WIP also helps the surety company to evaluate the progress of the project as well. A well-documented WIP can help the contracting company earn future approval for surety bonds. In a general WIP, some of the things documented are the contract […]
Read moreMany contractors find that the surety bond process can be complex. But, having a competent and knowledgeable surety bond producer is the first step to making sure your project will get underway. By answering the following questions, a contractor may be able to determine if there may be a delay in approval. Questions to Consider: 1. […]
Read moreA financial guarantee bond can be difficult for an applicant to obtain approval for. But, with the right expertise from a surety bond producer, it can be done with very little hassle. These bonds encompass a large number of different types of bonds where the only remedy is straight financial payment. Learn more below, or request a […]
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