Yes, the principal can. A surety permits the principal to make changes to the surety bond. The principal can have an information updated, corrected, or modified even if the bond […]
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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 […]
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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 of the different […]
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What does a surety bond form look like? Learn the three main sections, what every legal term means, and how to read your bond form with confidence.
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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 […]
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Surety Bond Update for Small Contractors in NJ with Surety Bond Authority The U.S. Small Business Administration has recently announced the changes made to the Surety Bond Guarantee (SBG) Program […]
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Surety bonds are not limited to a specific contract. The scope of the contract guaranteed by the Surety is outlined in the bond form. Each state or jurisdiction has its […]
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From Basic Laws, Co-Surety Roles to Subrogation Rights In this article, we tackle the surety bond fundamentals – from its basic laws to roles of the co-surety play and subrogation […]
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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 […]
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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 […]
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