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SURETY BOND BLOG

Monthly Archives: July 2011

31
Jul
2011

Proposed Florida Contractor Bond Revision

The state of Florida has proposed a new rule for electrical contractors. The Florida Department of Business and Professional Regulation suggested removing the alternative of a letter of credit as opposed to a surety bond which current law allows. The present law requires contractors to acquire a performance or payment bond of at least $10,000 read more »




30
Jul
2011

Colorado Retail Gaming Bond

Retail Gaming licensees are affected by new regulations that were recently put in to place; more specifically The Colorado Department of Revenue has implemented new rules regarding gaming taxes. The new policies require retail gaming licensees to acquire a surety bond in a quantity that the Gaming Commission is yet to establish. The surety bond read more »




29
Jul
2011

California Mortgage Loan Servicer Bond

California mortgage loan servicers have to abide by a new law that was recently passed. The California Department of Corporations implemented a new law enacted under SB 36 and it requires mortgage loan services to obtain a bond that’s equivalent to the bond required of mortgage lenders, which is $50,000. The new law also requires read more »




28
Jul
2011

Alabama Carbon Dioxide Injection Well Bond

Anyone working with injection wells in the state of Alabama may have to meet a new requirement in the near future. The Alabama Department of Environmental Management has suggested new requirements concerning Class VI injection wells for the geologic sequestration of carbon dioxide. The new proposed requirement asks the owner or operator of the well read more »




27
Jul
2011

Politicians Off Target: SBA Bond Program Still Draining Taxpayer Money

Legislators have been striving to make improvements to the government run U.S. Small Business Administration (SBA) Bond Guarantee Program for the last couple of years now. Though the changes proposed by various state Representatives have been meant to benefit small contractors; they seem to be pinpointing the wrong target and end up missing the bigger read more »




26
Jul
2011

Green Performance Bonds: Impending Deadline of 2012

The Washington DC City Council passed legislation called The Green Building Act in 2006. The act, which is set to begin in 2012, will require a green performance bond to on all future eco-friendly construction projects.