Recent Posts
Surety Bond or Letter of Credit: What's the Difference?
Surety bonds and letters of credit (LOCs) both provide risk management for construction or development projects. To know which is appropriate to use, it helps to ...
10/13/20
Is It Possible to Cancel a Bond?
We all know bonds are not the same as insurance. While bonds are considered to be a type of specialty insurance, and the surety is usually an insurance company, ...
07/20/20
Why Work in Progress Schedules Are So Important
I鈥檓 sure you鈥檝e heard these questions or some variation of them too many times to count. 鈥淐an you send me a WIP that goes with this statement?鈥� 鈥淐an you send me ...
06/29/20
Worker鈥檚 Compensation 鈥� Subs, 1099s, Employees 鈥� From a Risk and Bonding Perspective 鈥� It Does Matter!
Workers鈥� compensation can be a sticky wicket for construction firms. It鈥檚 an area where new contractors and veterans alike can find themselves in legal and ...
06/03/20
How Do I Increase My Bonding Capacity?
We are often asked by agents and contractors about how they would go about increasing their bond capacity. The amount of things a contractor can do to accomplish ...
12/12/19
Consider These 4 Questions When Hiring a Subcontractor
If you鈥檙e a general contractor, you know the right subcontractors can mean the difference between a smooth job and a million headaches. While a surety company ...
12/06/19
The ABCs of Surety Bonds
What's the difference between surety bonds and insurance? That鈥檚 a question I hear often, and it鈥檚 a good starting point for discussion. Knowing those differences ...
10/07/19
Insurance Agents Should Promote Business Services Bonds
We like to think that service employees are honest and always have the customer in mind. Unfortunately, an employee working in a customer鈥檚 home or business may ...
09/18/19
Construction Oriented CPAs Play Key Role for Contractor's Bonding Needs
We often hear contractors say that getting a job is the hard part 鈥� completing the project is the easy part. Many factors go into that, one of which is having ...
08/02/19
A Tale of Two Opportunities: Financing of Risk Through Subcontract Bonds
Last month I met with two contractors where subcontract bonds were a central topic. The first was a paper general contractor, meaning they administered the ...
07/30/19