4 Mistakes First-Time Surety Bond Buyers Make and How to Avoid Them - image  on https://suretybondauthority.com

4 Mistakes First-Time Surety Bond Buyers Make and How to Avoid Them

    While it’s true that surety bonds are not as intimidating – nor as expensive – as they may seem, it can also be safely said that they’re not the easiest things in the world either. What we meant by that statement is that the same criteria … Continued

SURETY BOND UPDATE: Bigger Opportunities for Small Contractors in New Jersey Thanks to the Amended SBA Surety Bond Program

The U.S. Small Business Administration has recently announced the changes made to the Surety Bond Guarantee (SBG) Program which will benefit small contractors in the State of New Jersey. The amended program – which started on the 20th of September … Continued

How Does a Surety Evaluate a Principal’s Ability to Perform?

Evaluating a principal’s ability to perform an obligation is the final step in the underwriting process. Your ability to get bonds starts, and may end, here. To get approved for surety bonds you will need to provide your surety company … Continued

How to Cancel a Surety Bond

State laws have been enacted in recent years which restrict Principals from effecting cancellation or nonrenewal except under specified circumstances. Providing the Surety a written notice that reasons the need for cancellation is helpful for determining if we are allowed … Continued

Revised Conditions of the 2017 AIA Contract Documents

Industry Round Up Blog: Tackling the latest on the new insurance and bonds exhibit, digitization, and sustainable projects exhibit In this monthly industry round-up, we take a look at the new revised AIA conditions as well as commentaries from those … Continued

Surety Bond vs Letter of Credit

Which is the BETTER option for contractors? To manage risks in construction projects, surety bonds and letters of credit (LOC) are used to ensure financial compensation in case of default or failure to fulfill contractual obligations. However, surety bonds have … Continued

The Surety Underwriting Process: What You Need To Know

In the process of obtaining surety bonds, you may come across the underwriting process. This process is quite intimidating, especially to new surety bond applicants. Here, we provide a brief overview on how surety bond underwriters identify risks, understand terms … Continued

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