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.
Breaking Down Contract Surety Bonds: What is a Bid Bond?
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.
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4 Things You Need to Know When Applying for Customs Bonds
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.
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How Construction Bonds Safeguard You
The construction industry is filled with risk. More than 60 percent of all small businesses, including smaller construction firms, contractors, and subcontractors, will be out of business within six years. The industry is also very sensitive to outside problems, such as equipment problems, economic downturns, high prices caused by trade tariffs like the recent steel tariff, labor problems, shortages of materials, and a variety of other factors.
How Viking Bond Service Defines Surety Bonds in 2018
Are you wondering how surety bond companies like Viking Bond Service keep current in a marketplace that changes as quickly? To know how Viking Bond Service defines surety bonds in 2018, it helps to understand what a surety bond is, what the most common types of surety bonds are, and how the definition has changed in recent times.
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Viking Bond Service Attends Annual National Association of Surety Bond Producers (NASBP) Meeting
(Viking Bond Service’s Tom Buckner featured on the far right)
The Viking Bond Service team recently attended the annual National Association of Surety Bond Producers (NASBP) meeting and expo from April 29 through May 2 in Scottsdale, Arizona. The theme of this year’s conference was “Building on a Solid Foundation,” and the event focused on taking a look at where the industry is and where it is going.
Why Surety Bond Costs Are Always Worth It
Confused about the value of a surety bond to your business? Great news: surety bond costs are always worth it. Here are the top reasons why that’s true.
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Industry News: Ohio Auditor Yost Suggests Surety Bonds as Solution to Unpaid Debts
Ohio state Auditor Dave Yost is recommending that Ohio should require surety bonds for Medicaid providers. The Medicaid bonds would allow the state to recover overpayments and fraudulent charges more easily.
New Mexico Announces Rise in Bond Amount for Operators of Oil, Gas and Services Wells
Oil and gas well operators in New Mexico are now subject to the new regulations outlined in Senate Bill 189, which amends the existing Oil and Gas Act. The bill, passed on February 14, 2018, establishes new requirements that well operators must meet to operate in any part of the state.
New Licensing and Bonding Requirements for Pennsylvania Nonbank Mortgage Servicers
If you’re a nonbank mortgage loan servicer in Pennsylvania and not prepared for the new state licensing rules, you’ll need to get started soon! Governor Tom Wolf signed Pennsylvania Senate Bill 751 into law back in December last year. The bill brings a number of new rules that nonbank mortgage servicers in Pennsylvania will need to follow to operate as mortgage providers in the state.