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Surety Bond Blog

COVID-19 AND THE PERFORMANCE BOND SURETY

COVID-19 AND THE PERFORMANCE BOND SURETY

COVID-19 AND THE PERFORMANCE BOND SURETY 
COVID-19 is a global Pandemic that is impacting every sector of the global economy. The construction industry is already being severely affected. While much analysis has been written on the Pandemic and the legal ramifications associated therewith, most of that analysis has been geared towards a “Force Majeure” inquiry. 
The specific question addressed in …

 

Surety1 Open During COVID-19 Pandemic

Surety1 Open During COVID-19 Pandemic

Surety1 is open during COVID-19 pandemic. While far from business as usual, most of our staff will be working from home. With the technology we have the work is practically seamless.  That said, there
may be some unavoidable disruptions due to the COVID-19 pandemic.  We count on UPS, FEDEX and USPS to deliver surety bonds. To date, we have not …

 

What is an indemnity agreement?

What is an indemnity agreement?

What is an indemnity agreement,  why the surety requires it, and why you  have to sign it personally, even though your company needs the surety bond.
A surety bond is not an insurance policy. A surety bond is a 3 party transaction, (click here to see our video) versus a insurance which is a 2 party transaction. What does this …

 

New Mexico Vehicle Dealer Surety Bonds Expire Annually on March 31st | Get Bonded Today!

New Mexico Vehicle Dealer Surety Bonds Expire Annually on March 31st | Get Bonded Today!

About the New Mexico Motor Vehicle Dealer Bond
The Motor Vehicle Dealer bond is a contractual agreement between three parties. You are the principal. The obligee is the state Motor Vehicle Division. The surety is the third party which provides the bonding. Auto dealer bonds do not protect the principal from lawsuits, but rather it protects the consumer from fraud or misrepresentation by the …

 

Alaska Real Estate Appraisal Management Companies Required to Post $50k Bond in 2019

Alaska Real Estate Appraisal Management Companies Required to Post $50k Bond in 2019

The Board of Certified Real Estate Appraisers now require real estate appraisal management companies to register and post a $50,000 bond. This new bond agreement guarantees that they will follow all applicable laws and regulations in the state in which they place appraisers in. This surety bond protects the state and the public by guaranteeing that appraisal management companies will …

 

Spend less on bonds to Computershare

Spend less on bonds to Computershare

How to save money on your lost securities bond for Computershare
If you have lost or misplaced  securities , chances are investor relations will send you to the transfer agent that manages the shares. This may very well be Computershare as they are one of the largest transfer agencies in the country. The transfer agency will issue a “stop transfer …

 

When to get a Business Service Bond

When to get a Business Service Bond

When to get a Business Service Bond
If you’ve never heard of a surety bond before, you’re not alone. Most people first hear the term when told they need one. Surety bonds fall into different categories like contract, court, license & permit. There are many bond types within those categories.  One of those types is a Business Service bond.
According …

 

The Fourth Party to a Surety Bond

The Fourth Party to a Surety Bond

Unlike traditional insurance where there are two parties involved, the insured and the insurer, a Surety Bond is a legally binding contract between three parties. The obligee, the principal and the surety company. The principal is the one who needs the bond and applies for it. The obligee is the one that requires the principal to be bonded and determines …

 

Bond Renewals – Surety1 Explains

Bond Renewals – Surety1 Explains

Bond Renewals – Surety1 Explains
 What is a Bond Renewal?
 To understand what a bond renewal is, we need to start with what is the bond term. The bond term specifies the period of time that a bond is active. The term will be stated on the bond form. It is the Obligee (the party that’s requiring the bond) that …

 

Need a Title for my Vehicle

Need a Title for my Vehicle

Need a Title for my Vehicle
You just bought a car and the seller did not provide you with a title to the vehicle. What can you do? Who can you turn to for help? Depending on what state you live in you may be able to get a title by first obtaining a surety bond.
The DMV in your …