Comments on: License Bonds, Protecting The Public http://www.jwsuretybonds.com/blog/license-bonds-protecting-the-public General to specific surety bond information, as well as current events within the industry. Thu, 18 Mar 2010 20:18:41 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Michael Weisbrot http://www.jwsuretybonds.com/blog/license-bonds-protecting-the-public/comment-page-1#comment-1790 Michael Weisbrot Thu, 21 Jan 2010 15:37:51 +0000 http://www.jwsuretybonds.com/blog/?p=40#comment-1790 Larry, sorry to hear that you had to pay for a claim that you felt was not legitimate. I am sure you know, it was likely your best option anyhow. The sureties always require all applicants to fully indemnify prior to bond issuance so they would have pursued you for the claim otherwise. Paying it leaves the possibility of being bonded again in the future if you so choose. Not paying it is a sure way to put the biggest roadblock possible between you and future bonds. It just goes to show how important getting paired up with the proper surety is. If a bonding company's claims department doesn't do their due diligence, errors like this can occur. Sorry to hear about your troubles! Best of luck. Larry, sorry to hear that you had to pay for a claim that you felt was not legitimate. I am sure you know, it was likely your best option anyhow. The sureties always require all applicants to fully indemnify prior to bond issuance so they would have pursued you for the claim otherwise. Paying it leaves the possibility of being bonded again in the future if you so choose. Not paying it is a sure way to put the biggest roadblock possible between you and future bonds.

It just goes to show how important getting paired up with the proper surety is. If a bonding company's claims department doesn't do their due diligence, errors like this can occur.

Sorry to hear about your troubles! Best of luck.

]]> By: Larry http://www.jwsuretybonds.com/blog/license-bonds-protecting-the-public/comment-page-1#comment-1787 Larry Thu, 21 Jan 2010 04:35:37 +0000 http://www.jwsuretybonds.com/blog/?p=40#comment-1787 The problem is that (especially in California) the Bonding Company is substituting their judgement for that of a court. I potential plaintiff can file a Bond Claim and be paid based on the Bonding Companies judgement without the plaintiff having gone through the traditional Civil system or Mechanics Lien Process which provides the Contractors some protection. I paid a claim that I didn't think I owed to keep the bonding company from paying it. The problem is that (especially in California) the Bonding Company is substituting their judgement for that of a court. I potential plaintiff can file a Bond Claim and be paid based on the Bonding Companies judgement without the plaintiff having gone through the traditional Civil system or Mechanics Lien Process which provides the Contractors some protection. I paid a claim that I didn't think I owed to keep the bonding company from paying it.

]]> By: Savannah http://www.jwsuretybonds.com/blog/license-bonds-protecting-the-public/comment-page-1#comment-1004 Savannah Mon, 07 Sep 2009 17:42:53 +0000 http://www.jwsuretybonds.com/blog/?p=40#comment-1004 Hello My son is a painter contractor (first year lic.) and his bond went from 100.00 a year to 1,300.00 per year because he does not have a credit score. I am looking for different options for him to obtain a bond. Do you have any suggestions. Thanks for your help. Hello
My son is a painter contractor (first year lic.) and his bond went from 100.00 a year to 1,300.00 per year because he does not have a credit score. I am looking for different options for him to obtain a bond. Do you have any suggestions. Thanks for your help.

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