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 is still in effect. Let’s say, for example, you acquired … 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
The construction industry is expected to experience healthy economic times. Construction spending, for one, continuously grows according to the Department of Commerce. In fact, construction spending grew to $1.257 trillion late last year. Not only that, the Bureau of Labor Statistics confirms that … 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 stage in the … Continued
State statutes require contractors working on public projects in the United States to post different types of construction surety bonds. One of the most available and common types of surety bond is the Performance Bond where it guarantees that the … Continued
In construction, especially for most government development projects, surety bonds will be required for companies even for preliminary bids. Federal or state projects require contractors to acquire construction surety bonds for the development or repair of any structure or public … Continued
A construction development project can be a high-risk endeavor and requires a carefully developed plan of action to ensure the terms promised will be executed correctly and fairly for all parties involved. When starting a construction development project, the earlier … Continued
Surety bonds cover an extremely wide range of needs and purposes, especially when it comes to the global exporting industry is no different. Each year, millions of dollars in product and services are shipped internationally. In order to protect their … Continued
Construction surety bonds serve a multitude of purposes, from reinforcing building standards to ensuring payments are made in full in regards to a specified contract. While it is true there are a variety of reasons for specific surety bonds, it … Continued
Surety Bond Authority Launches Company to Make Surety Bond Process Simple November, 30th, 2016 – Woodland Hills, CA Surety Bond Authority, Inc., announces the launch of our new Surety Bond Company. Initially, Surety Bond Authority is offering its services in … Continued