Business Insurance

A contractor surety bond is a bond that guarantees a construction company will complete a project as promised. There are several common types: A bid surety bond guarantees that the contractor...

A bid bond is critical to the construction industry or any other bid-based selection process. Bid bonds are a way of ensuring the bidder will live up to its agreement with the project owner.

The current economy has increased the demand for used cars. According to CarDealerDaily.com: "Used car volume rose about 3.1 percent in the month of February." This recent increase in...

If you have bad credit and you require a surety bond to start a new business, or you are trying to replace your current surety bond because it is not being renewed due to credit issues, this...

On most major construction projects, work is awarded through a process known as bidding. Here, contractors submit prices for the job to the project owner. The contractor with the lowest price is...

Surety insurance is a term that refers to an individual or corporation that purchases a surety bond. A surety bond is similar to insurance in which a guarantee is provided. However, a surety bond...

Construction bonds are a form of insurance designed to protect clients and taxpayers from the risks associated with contracting. Bonds are issued by licensed surety companies, which evaluate a...

Construction bonding is a risk management tool used to protect project owners and developers. A bond constitutes a legal guarantee that the project will be completed as expected. In instances...

A construction bond minimizes the financial risk faced by project owners and developers in the construction industry. The bond is similar to an insurance policy, but actually goes a step further...

Surety Bond Insurance is actually a misnomer. A surety bond, though associated with insurance companies, is a line of credit. According to JW Surety Bond Consultants, a surety bond is a guarantee.

Surety bonds are generally used in construction, but can be used any time a contractor is hired to perform a service. In short, the bond offers financial protection in case the vendor does not...

If you are in business for yourself, you should have some kind of liability insurance. Depending on your business, having a surety or other bond will also protect you in the event a customer...

A surety bond is a contractual obligation where a third party guarantees that the first party will live up to the terms of an agreement with the second party, or pay a penalty. They are often...

Contractors regularly perform work with a high dollar value, and in an effort to provide the customer with monetary assurance that the job will proceed as described, the contractor purchases a...

Underwriting is a term that varies depending on what it is used for. Broadly, it refers to a form of risk management that is useful to financial entities. Underwriters are people who perform this...

Corporate surety bonds are big business, generating $3.5 billion every year. In general terms, this is the business of having a third party guarantee that a contracted party will live up to the...

Surety bonds are intended to provide assurance in business situations that are perceived to be high risk. With this type of arrangement, the surety bond promises the obligee that a third...

Surety bonds are like insurance: better to have it and not need it, than to need it and not have it. Like insurance, surety bonds put the resources of huge underwriters behind corporations or...

Who guarantees that you will live up to your duties or obligations? When you or your firm are in competition for a big job, the company considering hiring your firm may ask for a surety bond to...

A surety bond is an agreement between three parties to ensure that a promise is kept. A surety bond company guarantees completion of a certain legal obligation by one party to another. An example...