Every surety seeks zero problems in all of the commercial bonds that they issue. But suretyship isn’t perfect. Nobody is. Mistakes can happen. And that’s why surety bond claims are made. Since the surety is the one who practically … Continued
Signing an indemnity agreement is a standard procedure when obtaining a surety bond. It is second to the last step in the bond process – just right before the bond is issued. As the word suggests, indemnity means protection or … Continued
If you’ve been searching for some insight regarding the upcoming renewal of your surety bond, you’ve come to the right place. We’ll give you a clear understanding about the different types of surety bond renewals and extensions, and how … Continued
It’s easy to get confused about the sections, wording, or clauses of a surety bond form, especially in the beginning. But it’s important to have a good understanding of it because it contains significantly more features than a typical contract. … Continued
Many first-time restaurateurs, bar owners, or liquor store owners are confused about the process of obtaining a California liquor license. Yes, both the state, the Department of Alcoholic Beverage Control, and the counties does impose plenty of rules that needs … Continued
The California marijuana industry has been undergoing a series of major changes since the third quarter of 2016. The latest one is the approval of the first surety bond program by the Department of Insurance of the State of California. … Continued
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
Are you a personal lines-broker agent in California? If so, the California Assembly Bill 1696 requires you to obtain a $10,000 surety bond. The bond should be issued by a California-admitted surety and should be made payable to the State … Continued
The motor vehicle dealer law in the State of Illinois has been relatively unchanged for quite some time. But since the 1st of January 2018, newly amended provisions of the Illinois Vehicle Code has taken effect. The changes will include a surety bond increase for new vehicle dealer and used motor vehicle dealer license … Continued
Much has been said about the key players of a surety bond, the process of obtaining a bond, and the role a surety bond plays in a specific industry or business. However, the issuance of a surety bond is not the final … Continued