PHONE248-349-6227
FAX248-348-6762
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…
Read more
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…
Read more
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…
Read more
Your bond experts are standing by, ready to assist contractors in pre-qualifying their bond applications for municipalities, schools, and public works that will be opening soon. At CBS, our specialty is to help you get the construction bonds you need. We’ll decipher the paperwork and make recommendations to place you on top! Construction Bonding Specialists…
Read more
Surety bond producers are the middle people between the surety company and the contractor. Construction bond producers understand the surety and construction industries and are crucial when seeking to acquire surety credit. The surety bond producer can make or break an active contractor’s surety as they determine approval, bond size, and collateral obligations. They…
Read more
Surety bonds are contracts between three parties: the principal, surety, and obligee. These bonds have many characteristics you might not know about. Read on to learn more about surety bonds. Ancient HistorySurety bonds are ancient, mentioned in the Code of Hammurabi (circa 1754 BC), the Bible, and the Quran. To construct buildings, walls, roads, etc.,…
Read more