How do bonds work? This is a vague question that can be referring to many unrelated bond types. However, if you’re looking for a guide on how surety bonds such as license and permit, contract and court bonds work, or are looking for an explanation of how fidelity bond insurance works, you have come to read more »
When you are developing your business in the construction field in Texas, you quickly learn that you have to play by many rules. If you are a newbie, it is likely that the amount of licenses, permits, regulations and administrative steps might discourage you. With time, however, it does get easier and your contractor business read more »
Passing a new bill through the Congress is not an easy task, but it seems that the Security in Bonding Act of 2013, also known as H.R. 776, has good prospects of making it. The previous act, the Security in Bonding Act of 2012, known as H.R. 3534, managed to pass through the U.S. House read more »
If you are a contractor who wants to get involved in public works, you are likely to stumble upon several administrative hurdles that might be completely unknown to you if you are new to the business. Among the rather exotic-sounding terms that will fly around, you will have to tackle three particularly important ones: bid bonds and performance read more »
You may hear different opinions on the subject but there is substantial proof that 2012 was a fruitful year for innovative construction in the U.S. The industry is an intensive and volatile one, heavily affected by an economic downturn. There are also many laws and regulations to follow, which make it a difficult playground: from read more »
The moment has finally arrived; the Small Business Administration is pushing enhancements to their struggling bond program. The improvements are small, but it’s a step in the right direction.