Not sure how to navigate the surety bond application and approval process? You’re not alone. Here’s our hot take on what you should know to avoid errors, delays, rejection, and wasting precious time and money after submitting your application. We want you to get bonded as easily and quickly as possible. Follow these expert tips […]
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03
Feb
Feb
Surety bonds are a type of financial guarantee that protects the obligee (the party owed money or something of value) from financial loss if the principal (the party obligated to pay) fails to fulfill their contractual obligations. Surety bonds are used in various industries, including construction, healthcare, and government contracting. Most bonds cost around 1-10% […]
28
Aug
Aug
Running a small business is a big deal. It’s likely your passion, livelihood, and reputation on the line. Whether you’re a newbie entrepreneur or a seasoned pro, there’s one thing you can’t afford to overlook: surety bonds and insurance. These aren’t just bureaucratic boxes to check off. They’re the safety nets that protect everything you’ve […]
24
Feb
Feb
Commercial Bonds vs. Contract Bonds: How Are They Different? There are several types of surety bonds. Two of the main categories are contract bonds and commercial bonds, which we’ll cover today. While they have overlapping similarities, they also have some distinct differences that set them apart. Read on to learn when and why you might […]
21
May
May
A surety bond is a legally binding contract ensuring one party keeps its promise to another. If someone fails to keep their promise, a surety company will compensate the party who experienced the loss. Then the party at fault for breaching the contract will have to pay the surety back. Confused? Hey, that’s okay! That’s […]