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New Surety Bond Requirements in California 2018-19

New Surety Bond Requirements in California 2018-19

With the adjournment of the California legislature last August 31, 2018,

some enacted wills have affected some surety bond requirements for the state of California. Please read below for the specific changes. 

Alternative Project Delivery Methods

1. Assembly Bill 2654  – According to AB 2654,which …

 

Transportation infrastructure projects – spending is up in California

Transportation infrastructure projects – spending is up in California

Spending on transportation infrastructure projects is up in California, contractors can benefit from this increased spending.
Senate Bill 1, voted into law in April of 2017 promises to increase spending for california transportation infrastructure projects by two billion dollars per year over the next 10 years.

While there is a ballot initiative to be voted on November 5 to repeal SB1, …

 

How to become a Maryland Title Service Agent

How to become a Maryland Title Service Agent

The Business Licensing and Consumer Services (BL&CS) division of the Maryland Motor Vehicle Administration (MVA) is the licensing department to become a Maryland Title Service Agent. sometimes referred to as an auto tag distributor, below are the steps necessary to become a license agent:

Complete an Application for Title Service Agent. The application can be found here. 
Have a zoning official sign …

 

Money Transmitter Bonds for Cryptocurrency

Money Transmitter Bonds for Cryptocurrency

Understanding the requirements and underwriting considerations for money transmitter surety bonds in a cryptocurrency environment
A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets. According to Wikipedia, Bitcoin is generally considered the first decentralized cryptocurrency. Since …

 

California Immigration Consultant Surety Bond

California Immigration Consultant Surety Bond

The California Secretary of State demands that all who wish to be immigration consultants must submit a surety bond amounting to $100,000 upon applying for a license.
What are the requirements in order to be an immigration consultant in the state of California?
An immigration consultant, according to the Secretary of State, cannot offer legal advice to people’s immigration …

 

CALIFORNIA GAS TAX Increases public works funding

CALIFORNIA GAS TAX Increases public works funding

California increased its gas tax last November 2017. The state excise tax, which is part of the transportation package approved and signed by Gov. Jerry Brown in April of last year increased the state excise tax on gasoline from 29.7 cents to 41.7 cents per gallon, a 12 cent increase. Diesel fuel also experienced an increase, going from 16 cents …

 

What is a payment bond?

What is a payment bond?

What is a payment bond? A payment bond is a third party guarantee that a company will pay the bills associated with a particular contract. It is a type of surety bond.  There is no “blanket” payment bond, a bond that would guarantee all of companies bills get paid. They are always contract specific.
When would I need a payment …

 

How the SBA Bond Guaranty Program Works

If you are a contractor in the public works sector, you likely know about bid, performance, and payment bonds.  You also likely know that qualifying for bonds depend on the financial condition of your company, personal finances, and experience as a contractor. Bonding is a lot like applying for a loan. Similar to lending, a contractor qualifies up to a …

 

Maine Mortgage Loan Originator Bond

Maine Mortgage Loan Originator Bond

The Maine Mortgage Loan Originator Bond is a $25,000 surety bond required to obtain a license to become a loan originator in Maine. The bond is in place to protect the public and the state of Maine from the consequences of dishonest or incompetent loan originators. It is NOT INSURANCE for the loan originator. The bond is part of the …

 

How Does a Washington Private Investigator Bond Work?

Washington Private Investigator Bond
The Washington Private Investigator Bond consists of three parties: the state, the private investigator, and the surety company. The Washington Department of Licensing’s Public Protection Unit requires a bond from all licensed private investigators. If the private investigator acts against the provisions of the bond and injures a person or group as a result, the harmed …