Personal credit is not the only factor used for surety bond underwriting. However, red flags on a credit report can make a rate sky rocket or in severe cases cause a declination. Red flags consist of bankruptcies, tax liens, collections, civil judgments, and low credit scores. The scoring system used by the [...]

The difference between bond producers can be night and day. A good producer knows the surety industry and the construction industry (for contract bond producers). For contractors, a bond producer is a key to the door of suretyship. The differences in contract producers could be the difference of approval and declination, bond [...]

Bonding companies look at far more than just owners’ personal credit when it comes to contract surety over $100,000. A surety wants to have confidence in their bonded contractors prior to approval. There are numerous different actions a contractor can take to instill confidence in a bonding company. A contractor must be [...]

The state of North Dakota is reviewing current auctioneer licensing requirements. For more traditional auctioneers, the license must be filed with a $5,000 surety bond. The state is questioning whether the licenses should be required of Internet auctioneers (ie eBay).
The license would not be required of individuals selling their personal goods [...]

License bonds are surety bonds filed with a license to help protect the public. All different types of businesses are required to file license bonds: mortgage brokers, car dealers, contractors, etc. The one thing that they all have in common is that they typically deal directly with the citizens the bond is in [...]