Our Blog - Surety Matters

A growing number of states in America are enacting “stay-at-home” orders to reduce the spread of the coronavirus (COVID-19) and encourage all Americans to continue social distancing. The directives to keep residents in their homes,…
Read Moreabout More States Issue “Stay-At-Home” Orders Except for “Essential Activities”

The coronavirus pandemic fosters a plethora of uncertainty for contractors, subcontractors, suppliers, owners, and sureties. In every state across America, guidelines are being put in place to determine if construction is an “essential” infrastructure to…
Read Moreabout The Potential Impact COVID-19 Will Have on Contract Surety

On March 27, 2020, Governor Chris Sununu of New Hampshire officially ordered all businesses who do not offer “essential” services to their customers to close physical in-person operations by 11:59PM of that day. All companies…
Read Moreabout New Hampshire Instructs “Non-Essential Businesses” to Close Operations

To help fend off the nascent coronavirus (COVID-19) epidemic, the state of New York has halted all but “essential” statewide services. Gyms, restaurants, bars and various other businesses are closing their doors to comply with…
Read Moreabout Construction Deemed “Essential” in New York

Over or underbilling by a contractor can be a big problem for obtaining your bid and performance bonds from your surety bonding company. According to generally accepted accounting principals, contractors should report earnings based on the percentage…
Read Moreabout When Contractors Over or Underbill

A Performance Bond has ensured that no additional construction costs will incur despite a delay caused by a defaulting contractor working on a Reynoldsburg, Ohio fire station. A new Truro Township fire station was set…
Read Moreabout Surety Bond Ensures No Added Construction Costs Despite Contractor Default

According to the Associated Builders and Contractors, there were nearly 7 million open construction jobs in the United States as of July 2018. The biggest reason for the shortage is a lack of skilled construction…
Read Moreabout Construction Labor Shortage Risks Performance

It’s extremely difficult for construction projects to come in under budget. Poor project management may be one reason for the error while unforeseeable circumstances may be another. But one of the most common causes of…
Read Moreabout Incorrect Project Estimates Cause Construction Cost Overrun

With much global infrastructure needing to be replaced in first world countries such as the United States, the global surety market is expected to grow by 7% per year up to the year 2025. There are going…
Read Moreabout Massive Surety Industry Growth Expected by 2025