Bonding companies will often agree to write risks they typically would decline by requiring collateral along with the premium. This is a good solution in certain circumstances, but clients would be wise to carefully read their collateral agreements prior to signing on the ‘X’.
Surety Bonds Blog
Many people do not understand why they need to obtain surety bonds, let alone understand what they are. If you want to find out why you need a surety bond,… Read more »
Bonding companies look at far more than just owners’ personal credit when it comes to construction bonds over $250,000. A surety wants to have confidence in their bonded contractors prior… Read more »
When obtaining a surety bond, you must sign an agreement of personal and corporate indemnity between the owner(s) of your company and the surety who is guaranteeing the bond. Many… Read more »