Surety Matters

Our blog covering the latest in bonds and insurance
Contract Surety 04.11.2019

New Union City Construction Bonding Rules In Place

Union City, New Jersey has enacted a new resolution at its recent Board of Commissioners meeting, changing the type of bonds issued by the city to construction companies. The city is now requiring performance bonds;…
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New Union City Construction Bonding Rules In Place
Contract Surety 04.11.2019

Joint Ventures Let Companies Share Bonding Responsibility

Joint ventures are surely more complicated than just taking on a project yourself. But utilizing the skills and aptitude of a joint venture partner can provide great benefit while also mitigating your company’s risk. As…
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Joint Ventures Let Companies Share Bonding Responsibility
Contract Surety 04.11.2019

Key Provisions in School Construction Contracts

Not every school construction project can go 100% swimmingly. Some are going to have delays or errors or go over budget. And the best way to guard against these roadblocks in school construction is a…
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Key Provisions in School Construction Contracts
Contract Surety 04.10.2019

New Musk Digger Could Revolutionize Construction

Elon Musk, founder of Boring Co., stated on Twitter that he is about a month away from presenting the Line-Storm, the company’s new tunnel boring machine (TBM). While current technology allows about ten minutes per…
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New Musk Digger Could Revolutionize Construction
Contract Surety 02.06.2019

Why do Contract Surety Bonds Matter in Construction?

Construction is an expensive and risky business where there is the danger of contractors not being able to undertake the projects at the amounts they bid. There’s a second area of concern too, as payment…
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Why do Contract Surety Bonds Matter in Construction?
Contract Surety 02.06.2019

Surety Industry to Nearly Double in Next Decade Due to Contract Surety

The global surety market is expected to grow to over $28 billion by the year 2027, up from $15.33 billion in 2018. The growth of nearly 100% is expected due to the imminent replacement of…
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Surety Industry to Nearly Double in Next Decade Due to Contract Surety
Contract Surety 01.22.2019

Federal Contracts Without Bonding Requirements May Still Require Bonds

Federal construction contracts over $150,000 requiring payment and performance bonds should not be a surprise to federal construction contractors. But what happens when a federal contract over $150,000 is ambiguous as to whether it’s specifically…
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Federal Contracts Without Bonding Requirements May Still Require Bonds
Contract Surety 01.02.2019

Funds Control in Contract Surety

Construction projects and contract surety come bundled with an assortment of risks, ranging from inability to meet deadlines to poor workmanship to workplace injuries. But one of the biggest risks of a construction project isn’t…
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Funds Control in Contract Surety
Contract Surety 12.14.2018

How the Contract Surety Industry Functions

It’s tough to come up with an overarching description of the contract surety industry. Like the insurance industry its products so resemble, the industry is cyclical. The industry also has a long tail, meaning that a…
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How the Contract Surety Industry Functions