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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 rights to have a deeper understanding of how sureties work (it’s not just about issuing bonds, you know?). But first, we review the laws of …
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 by law to do so. For example: In California, there is a state statute indicating …
Surety Bond vs LOC: 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 more advantages over LOCs when it comes to the parties involved, …
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 of how surety bond underwriters identify risks, understand terms and conditions, and evaluate the Principal’s three C’s. This outline also includes information the surety …
The Surety Underwriting Process: What You Need To Know Read More »
While surety bonds are now becoming the core requirement before conducting business in California, choosing a Surety Bond Company in California can get confusing. Here are some tips to help you get started. If you created a business in California, it might be in your interest to post a surety bond. Surety bonds are available …
Tips on Selecting a Surety Bond Company for Your California Business Read More »
California-based Surety Bond Company now offers accessible surety bonds at the most affordable rates in the Beehive State. Los Angeles, CA, June 16, 2017 — Surety Bond Authority, Inc., a leading surety bond provider, announces its surety bond programs for contractors and businesses in the State of Utah. From Alcohol Tax Bonds to Telemarketer Performance …
Surety Bond Authority Launches Accessible and Affordable Surety Bonds in Utah Read More »
Surety Bond Services are now available in Alaska with Surety Bond Authority California-based surety bond provider is now offering its surety bond services to the State of the Last Frontier. Los Angeles, CA, May 30, 2017 – Surety Bond Authority, Inc, a full-service California-based surety bond company, is now offering its surety bonds and surety …
Surety Bond Authority Launches Surety Bond Services in Alaska Read More »
We are not going to lie. Surety bonds can be quite confusing sometimes. For example, some people might have accidentally landed on our site because they typed “surety” instead of “security” on Google, and then decided to stay to find out what it’s all about. To be fair, they’re almost synonymous with one other…except that …
5 Most Unusual Surety Bonds That Have Ever Existed Read More »
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 …
Surety Bond Authority Roundup for the Construction Industry Read More »
A bid bond also called a tender bond, is a type of surety bond posted by a bidder for a construction project to provide assurance to the project owner that the bidder will make realistic bids and take on the job if chosen. Bid bonds provide project owners with assurance that the bidder has the …
