Surety Bond News

The environment and its wellbeing has been a hot topic for the past few years and it doesn’t seem to be losing popularity. The effects of this trend are obvious from battery powered cars to green buildings. Following the clean energy movement is a huge Wyoming wind turbine energy project which some are concerned won’t be completed properly; this is when the advantages of surety bonds become clear.
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While surety bonds are set up to provide a form of insurance to all parties involved in contracts and large construction projects, they are not completely fail-proof under certain circumstances. A recent federal court case addressed the issue of surety bond culpability and provided a valuable lesson for anyone working with bonds.
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Mortgage lenders and servicers in the State of Montana are affected by a new law that was recently enacted named the Montana Mortgage Act. The new law will be in effect on October 1, 2011 and now requires Montana services to acquire a $100,000 surety bond. The law also removes the option which allowed mortgage professionals to meet a specific net worth requirement in place of obtaining a bond. (more…)

The SFAA has proposed a bill concerning offshore aquaculture. Aquaculture is the farming of oceanic organisms such as fish, seaweed, shellfish, etc. (more…)

When choosing a company to do business with, it’s difficult to tell whether or not it’s a credible one; even after doing research and looking in to an organizations history, it’ still possible to get scathed by dishonest individuals. This is what happened to numerous Missouri farmers in the most detrimental grain fraud scheme in the state’s history.
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