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Posts Categorized: Surety Bonds

What Is A Surety Bond?

A surety bond is a mechanism used to transfer risk during a project or as indicated by a legal agreement. Three key players are involved, each with a specific role during the agreement: an obligee, a principal and the surety or bonding company. A surety bond is a type of guarantee between the obligee and […]

Five Major Types of Construction Bonds

Construction bonds are required to ensure that the contractor will meet all specs, terms and conditions of contractual agreement. Many of these bonds are obligations, but some companies are not fully aware on what they mean, how to get bonded and more importantly how much they will cost. This post highlights the five major types […]

Understanding Contractor Bonding Capacity For Construction

Contractor bonding capacity is a term used in the construction industry that determines how much surety credit your underwriter will provide to a contractor. The underwriter reviews and determines a single or aggregate limit so you can present it during your bid response. There are important factors and information the contractor needs to provide to […]

It Pays to Phase

“Hey Matthew, we need a $4,000,000 bond in the morning”, said our new contractor client.   “The GC wants the signed contract and the bond on his desk before 10”.  While I had him on the phone I sheepishly flipped through his data sheet, knowing full well his largest job was somewhere south of $500,000.  “This […]

Developer Capabilities

Commercial & Residential Developments Contractor Surety Group provides ‘A+’ surety bonds in lieu of liquid instruments i.e., LOCs or certified funds when municipalities or counties require plat, infrastructure, and other guarantees. Known collectively as Subdivision Bonds, these obligations are written on the financial strength of the developer. No collateral is required from the developer to […]