FAX248-348-6762

Vehicle Dealer Bond

Major Points Of The Claim Process In Auto Dealer Surety Bonds

To avoid confusion we will discuss some of the major points of the claim process in auto dealer surety bonds. Surety bonds are not the same as an insurance policy. A surety bond protects the consumer not the business.  The surety bond is an agreement that outlines an obligation of one of the parties, in…

Read more

Comparing Surety Bonds/Insurance Part II

In our last installment we began comparing surety bonds and insurance.  Many people are under the misconception that because of the similarities between surety bonds and the fact that often insurance companies offer them that they too are a form of insurance.  This however is not true.  As we previously discussed surety bonds are an…

Read more

Comparing Surety Bonds and Insurance Part One

Most people assume that because surety bonds are offered through an insurance company that a surety bond is a type of insurance policy.  This however is untrue.  Even though surety bonds and insurance policies have a few insignificant likenesses they are not the same thing at all.  In this installment we will discuss the differences…

Read more

Construction Bonds Help Lower Default

Nearly all public construction work that is completed is done so through private sector construction firms.  Jobs are bid on by private sector contractors.  An open competitive sealed bid system is used to determine who is awarded the work.  Many times the work is given to the contractor with the lowest, most comprehensive bid.  With…

Read more

Creating a Contractor’s Bond Line

Bonding is a concept many of us are unfamiliar with. In this article, we will focus on how bonding affects financing. It is important to understand that bonding is not a type of insurance. The purpose of bonding is to guarantee projects are completed on time or as near to schedule as possible regardless of…

Read more