In many cases small businesses and federal construction jobs mix like water and oil; they avoid each other. The government seems to gravitate to larger contractors as they have relative ease getting bonded in standard surety markets. The small contractors avoid the government funded SBA (Small Business Administration) Bond Guarantee Program, which is in place to help bond them, because of how cumbersome the SBA program is when compared to standard surety. Something has got to give. (more…)
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Surety World Still Urging Improvements To Government Bond Programs
January 27, 2012 by Eric WeisbrotDiscuss: Comments (0)
Category: Bid Bonds, Contract Bonds, Performance Bonds, Subdivision Bonds, Surety News
Tags: Bid Bonds, bond requirements, Contract Bonds, legislation, Performance Bonds, surety bond
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Surety Bonds Vs. Money In Escrow
January 19, 2012 by Eric WeisbrotGreen energy is here to stay and the state of Illinois is taking advantage of it via wind farms. Once the wind farms have served their point, they must be decommissioned or removed for the environment’s sake; surety bonds are one way to assure that it happens. (more…)
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Category: Bid Bonds, Contract Bonds, Performance Bonds, Subdivision Bonds, Surety News
Tags: Bid Bonds, bond requirements, Contract Bonds, Il, Illinois, legislation, Performance Bonds, surety bond
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Congress Pushes More Regulation On Personal Sureties
December 30, 2011 by Eric WeisbrotWhether an entrepreneur is opening a new car dealership or a contractor is building a bridge, surety bonds exist to guarantee business will be done properly. When it comes to federal construction projects, some deceptive contractors will try to sneak their way through surety regulations that are in place to protect the public; and that’s how “The Security in Bonding Act of 2011″ came about. (more…)
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Category: Bid Bonds, Contract Bonds, Performance Bonds, Subdivision Bonds, Surety News
Tags: Bid Bonds, bond requirements, Contract Bonds, legislation, Performance Bonds, surety bond
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Surety Industry Deceptively Booming Despite Recession
December 15, 2011 by Eric WeisbrotThe world of surety seems to be doing just fine amidst the down economy. There are still a lot of construction jobs available and many bonds to be written; but could the healthy appearance of the surety industry be somewhat of an illusion? (more…)
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Category: Auto Dealer Bonds, Bid Bonds, Commercial Bonds, Contract Bonds, Contractor License Bonds, General Bonding, Misc. Commerical Bonds, Money Transmitter Bonds, Mortgage Banker Bonds, Mortgage Broker Bonds, Performance Bonds, Subdivision Bonds, Surety News, Telephone Solicitor Bonds, Title Agency Bonds, Wage & Welfare Bonds
Tags: Bid Bonds, bond requirements, commercial bonds, Contract Bonds, legislation, Performance Bonds, surety bond
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Surety Bond Claims: Communication Is Key
October 20, 2011 by Eric WeisbrotThe surety bond industry is a quirky one. Should you already have bonds or foresee needing bonding in the future, it’s important to have good communication with your surety company. Poor communication can bring about avoidable lawsuits just like it did for a couple of condominium complexes in New York City.
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Category: Bid Bonds, Contract Bonds, Performance Bonds, Subdivision Bonds, Surety News
Tags: Bid Bonds, bond requirements, Contract Bonds, legislation, new york, NY, Performance Bonds, surety bond


