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Surety Bonds

Bond Markets Fluctuate Based on Rising Interest

Bond Markets Fluctuate Based on Rising Interest

At the end of 2021, the 10-year treasury note reached only 1.5 percent, creating low-interest rates. Less than a year later, in October 2022, the rates peaked at more than four percent, which hasn’t been seen since April 2010. These unusual bond market fluctuations force investors to constantly recalibrate to keep up.  Because of the…

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<strong>Digital Bonding and Surety for Construction Firms</strong>

Digital Bonding and Surety for Construction Firms

Digital bonding in the construction industry is much more common these days, primarily due to the introduction of digitization into the surety industry. Especially since the pandemic, when many everyday activities suddenly were launched into the digital realm, digitization of sureties for the construction industry has only gained momentum.  Paperless, fully digital bonding platforms are…

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Common Questions & Answers Regarding Surety Bonds and the Prequalification Process

Common Questions & Answers Regarding Surety Bonds and the Prequalification Process

What is a surety bond? A surety bond is a signed agreement that guarantees compliance, payment, or job performance. Sureties are a type of insurance with a three-party contract in which one party (the surety) guarantees the performance of a second party (the principal) to a third party (the obligee). Surety bonds written for construction…

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Understanding Construction Bond Claims

Understanding Construction Bond Claims

Experienced contractors generally make a conscious effort to avoid claims situations, while being proactive about understanding the process. Utilizing the perfect surety gives those contractors the knowledge and power they need for their claims team. For any contractor to take on bonded jobs, basic comprehension is essential.   The three main types of construction bonds are:…

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Requiring Private Construction Bonds

Requiring Private Construction Bonds

While public (federal, state, or local agencies) projects are required to provide performance and payment bonds, private construction generally does not require bonds. For privately-owned construction jobs, it is up to the owner to secure a bond.  While most contractors will work with a surety to provide the bond, some contractors will make it mandatory…

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What’s the Difference Between Contractor Bonds & Insurance?

What’s the Difference Between Contractor Bonds & Insurance?

Contract workers are required to attain a license or permit bond from a surety bonding company, such as ourselves. They are also required to obtain worker’s compensation and liability coverage for their crew. The difference between bonding and insurance can be a bit confusing and unclear. Read on to learn how to decipher between the…

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