Surety Bond Blog

4 Types of Problems Small-Scale Contractors Face – Which One Are You Currently Having?

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 the … Continued

Cancel a Surety Bond

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 … Continued

Surety Bond Authority Introduces Surety Bond Services to New Mexico

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California-based Surety Bond Company to bring surety bonds and consulting services to The Land of Enchantment. Los Angeles, CA, September 13, 2017 — Surety Bond Authority, Inc., a surety bond provider headquartered in Woodland Hills, CA, is now providing accessible … Continued

Surety Bond vs Letter of Credit

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. … Continued

The Surety Underwriting Process: What You Need To Know

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 … Continued

Surety Bond: Modifications, Cancellations and Renewal

Did you know that surety bonds can also be changed/modified, canceled, or renewed? This article will help you glean useful insights in case you are in dire need of bond modifications, cancellations, and renewal.   Modification Your existing surety bond … Continued

Surety Bond Authority Announces Available Nevada Surety Bonds for the State’s Diverse Markets

Surety Bonds in Nevada with Surety Bond Authority California-based surety bond company extends its surety bond services to the Silver State. Los Angeles, CA, July 11, 2017 – Surety Bond Authority, Inc. widens its surety bond availability as it now … Continued