Anyone who is planning to charge consumers a fee for providing financial advice must acquire an investment advisor surety bond, also called a financial advisor bond. The investment advisor surety bond is required to do this kind of work in most states. Usually, proof of the investment advisor surety bond must be submitted to the Department of Commerce and Consumer Affairs or the Department of Finance in the state in question.
In many states, the use of subdivision bonds is increasing. If you’re a contractor, property owner, or developer you should learn the basics of these bonds to ensure you know what they mean for your businesses development projects.
Forests are a public resource, providing we the people with timber for professional, public, and personal uses. Removing trees can help both contractors and landowners earn money, and if it is done properly, it can be done in harmony with the local ecosystem. However, when trees are removed incorrectly, harm to nearby waterways and surrounding wildlife is possible.
Another type of contract bond is the payment bond. These bonds are required for most construction projects, so many, if not most, contractors have had these bonds. Payment bonds guarantee that subcontractors, laborers, and materials suppliers will be paid, and paid on time. Payment bonds and the surety companies that back them keep projects lien-free and help ensure that all parties are happy.
As a maid, janitor, or any cleaning services provider, you may find that potential clients often insist on hiring only companies with janitorial bonds. These surety bonds ensure any cleaning services contract, and not only protect the person paying for the service, but they also protect your small business, which relies on reputation.
Surety bonds are used to manage the contract risk for construction projects, satisfy licensing requirements, and other applications. But what does that mean for your business? Learning the basics about surety bonds can help you understand why a surety bond would be required and how they work.
A variety of construction bond is the performance bond. This type of surety bond guarantees that a project will be completed satisfactorily by the contractor who undertakes it. This is different than insurance; the surety doesn’t just pay when contractors default on work.
Before they are able to be licensed in most states, auto dealers must file a surety bond called an auto dealer bond with the state’s Department of Motor Vehicles (DMV). However, what the auto dealer bond covers and how to get such a bond can be confusing.
A type of construction bond, a bid bond protects the developer or owner in the bidding process for a construction project. The bond guarantees that the bidder will honor the terms of their bid. If they fail, the surety backing the bond will compensate the owner.
Do you or your business import merchandise into the United States to sell, or for other commercial purposes? If so, you’ll need to get a customs bond. Read on to find out the four things you need to know when applying for customs bonds.