Surety bond applications generally only require a business to submit an application form, supporting documentation, and the premium amount in order for the bond to be underwritten. However, there are some circumstances where a surety may require the applicant to provide a form of collateral to secure the bond. This generally occurs when a surety bond deems that the risk of issuing the bond is too great without the additional protection of collateral. Continue reading “Types of Surety Bond Collateral”
Surety bonds are often misunderstood both by the business who needs a bond and the person or entity trying to make a claim against one! We’ve highlighted the top three surety bond myths to help you understand how surety bonds work:
Continue reading “Top Surety Bond Myths”
Surety bonds and letters of credit are both used to manage risk and provide a form of financial guarantee for the people and organizations your business works with. If you’re not sure whether a surety bond or a letter of credit is a better choice for your business needs we’re here to help you understand your options!
Continue reading “Surety Bonds Vs. Letters of Credit”
If you own a business that operates in the oil and gas industry you’ve probably already heard of surety and gas bonds. Whether you’ve had experience acquiring a bond before or this is your first time our oil and gas bond guide can help you understand everything you need to know about these types of surety bond.
Continue reading “Everything You Need to Know About Oil and Gas Bonds”
You may have heard about surety bonds but aren’t really sure what they are… Many people get confused between bonds and insurance but although they appear similar they can have very different implications for both businesses and consumers. Below you’ll find everything you need to know to understand the difference between surety bonds and insurance. Continue reading “Surety Bonds vs. Insurance”
Businesses are often required to purchase surety bonds to operate. Surety bonds are generally issued by surety companies. However, it’s common to apply for a surety bond through a broker or surety bonding agency.
Continue reading “Who issues surety bonds?”
If you’re a used car dealer in New York State your surety bonding requirements are about to change! Thanks to the New York Assembly Bill 8166 the state is about to bring in key changes that used car dealers need to be aware of. Although the bill passed in 2016, its influence will only begin on March 28, 2017, when the bill comes into effect.
Continue reading “How Used Car Dealer Bonds will Change in 2017”