Determining Standard vs Non-Standard Bond Limitations


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Many active bond users can sometimes be limited in their bonding potential. These limitations occur differently depending on the bond program. There are multiple ways to determine the bond limits for both standard and non-standard bond programs.

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Topics: Surety Bonding

10 Surety Underwriting Concerns

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Topics: Surety Bonding

Defaulting on Surety Bonds

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When beginning work on a project, it’s often required that the contractors have surety bonds in place. However, not only can a surety bond protect a contractor, but it can also protect the project owner when there are issues interfering with the completion of a project.

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Topics: Surety Bonding

Why Should You Bond Back Your Subcontractors?

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Shrewd General Contractors (GC) need to consider requiring surety bonds from their first-tier subs. This will help manage a contractor’s risk in any construction project and protect against claims from subcontractors and suppliers further downstream. Establishing and following a rigorous subtrade pre-qualification practice, is a key part of risk management for all contractors. Specifically:

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Topics: Surety Bonding

Surety Bonds and P3s

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Public-Private Partnerships (P3s) involve a challenging combination of new relationships and risk transfers for the private sector. While it has significant benefits for its stakeholders, this alternative construction project delivery model is not without risks. A surety company can provide very useful insights to a general contractor in this endeavor.

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Topics: Surety Bonding, Public-Private Partnership

Writing an incident Report - Step 1: Facts

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Surety bonds are instruments that have been around for well over 100 years, in fact Suretyship, or guarantees, have been around for centuries. While Surety is classified as a form of insurance because of capital requirements, it is treated more like a banking instrument since a contractor must qualify for a “surety credit”.

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Topics: Surety Bonding

Surety Bonds 101

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Surety bonds are instruments that have been around for well over 100 years, in fact Suretyship, or guarantees, have been around for centuries. While Surety is classified as a form of insurance because of capital requirements, it is treated more like a banking instrument since a contractor must qualify for a “surety credit”.

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Topics: Surety Bonding

Factors Sureties Review When Deciding To Retain a Defaulted Contractor

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In the construction industry, there are times when Contractor default occurs. Unfortunately, defaults are not always foreseeable or manageable. Here are several factors a Surety will review in order to make the decision on whether to retain a defaulted Contractor.

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Topics: Surety Bonding

Mid-Year Financial Planning Check-In

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With the middle of the year and the end of the 2nd Quarter quickly approaching, as a construction firm Owner, make sure you are reviewing your financial statements. The best way for your construction company to grow is to have a clear picture of your finances.

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Topics: Surety Bonding, Construction Risk Management