Surety Bond Blog » az

Arizona Contractor License Bond

Eric Weisbrot — Sat, 27 Aug 2011 18:29:53 +0000

There is a new surety bond option for Arizona contractors. A new law titled SB 1284 offers the use of arbitration for construction contractors settling disputes when the amount of disputed repairs are less than $5,000. SB 1284 states that the contractor has the option of obtaining a surety bond equal to the claim. Should a contractor go with the bond, it will prevent the suspension of their license.

Arizona Appeal Bond Revision

Eric Weisbrot — Sat, 07 May 2011 18:03:02 +0000

Arizona State legislators recently made modifications to the state’s court bond requirements; specifically concerning appeal bonds. The new bill is named SB 1212 and modifies the cap on an appeal bond that’s required to stay the execution of a judgment in civil actions. The previous legislation required a surety bond equivalent to the full quantity of the judgment including charges, interest and any damages relating to the appeal. SB 1212 requires the bond to be equal the total quantity of damages awarded excluding punitive damages, $25 million or 50% of the appellant’s net worth, whichever is less.

Arizona Real Property Appraisal Management Bond

Eric Weisbrot — Fri, 27 Aug 2010 16:08:37 +0000

The State of Arizona enacted new legislation relating to real property appraisal management companies. The new law, which is referred to as SB 1351, requires real property appraisal management companies to become registered and acquire a $20,000 surety bond. When SB 1351 was originally introduced, the surety bond quantity was $50,000.