construction bonds

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

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

Leave a Comment / Blog, Business Owners and Surety Bonds, Commercial Bonds, Construction Bonds, Court Bonds, License and Permit Bonds, Performance Bonds, Surety Bond Benefits, What Is A Surety Bond / By

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 that we often use for buying, let’s say, a bar of chocolate doesn’t necessarily apply to surety bonds. Mistakes do happen when purchasing …

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how to verify surety bond

How can a surety bond be verified?

Leave a Comment / Blog, Business Owners and Surety Bonds, Commercial Bonds, Construction Bonds, Court Bonds, License and Permit Bonds, Performance Bonds, Probate Bonds / By

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 bonding process. Both the Principal and the Obligee need to verify its authenticity in order to prevent …

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surety bond update

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

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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 which will benefit small contractors in the State of New Jersey. The amended program – which started on the 20th of September 2017 – allows …

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Surety Bond or Subcontractor Default Insurance

Surety Bond or Subcontractor Default Insurance?

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Which is the better option to manage subcontractor risks? Getting subcontractors adds a new dimension to a construction project. Construction companies, whether large or small that can mitigate subcontractor risks are far safer and more secure. Contractors that do not manage risks are often vulnerable to subcontractor defaults. As a contractor, you owe it to …

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construction cpa

Improve Your Chances of Getting Bonded With a Construction CPA

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Understanding the type of paperwork required to apply for a construction surety bond is a critical step towards becoming bonded. But the documentation will only mean little if you, as the contractor, do not have the right financial qualities to qualify. First, contractors need to demonstrate adequate financial strength – with low to zero debt …

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construction industry

Surety Bond Authority Roundup for the Construction Industry

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What Happens When a Contractor Fails to Meet the Obligation? Here’s our latest Surety Bond Industry Round-up, which is a monthly series where we examine current events in the surety bond industry.  This month, we curated industry-related news that detail issues related to surety bonds in the construction industry – what happens in case contractors …

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construction surety bonds

Construction Surety Bonds: 10 Important Questions and Answers

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Greg Rynerson, CEO of a California-based surety company, Surety Bond Authority Inc, answers in detail on what you need to know about Construction Surety Bonds. Today, many small, emerging, and even large-scale contractors looking to secure surety bonds and expand their businesses have many questions about construction bonds as required by state laws. Greg Rynerson, …

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