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Surety Bond Blog

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 …

 

Why Do Nevada Document Preparation Services need a Bond?

Nevada Document Preparation Bond
A Document Preparation Service must be bonded and licensed in order to be a legal representative for the public in the State of Nevada.  The Nevada Document Preparation Bond guarantees the privacy of the information that the document assistant has access to. The bond also ensures the protection of the public and the government from any harm caused …

 

What is a New York Hazardous Waste Bond?

New York Hazardous Waste Bond
The Commissioner of the Department of Environmental Conservation requires any business that manages land or structures that treats or disposes hazardous waste to file a bond. The New York Hazardous Waste bond ensures a business has adequate funds for the proper closure of hazardous waste facilities. Proper closure of hazardous waste facilities includes minimizing the …

 

Why Kentucky Investment Advisors Need a Bond

Kentucky Investment Advisors Need a Bond
The Kentucky Department of Financial Institutions requires all licensed investment advisors of Kentucky hold a bond. The Kentucky Investment Advisor Bond ensures that the investment advisor handles his or her client’s funds and securities legally and ethically, complying with the Kentucky Securities Act. The bond protects the public and the government from any harm …

 

California Commercial Fundraiser Bond for Charitable Purposes

California Commercial Fundraiser Bond for Charitable Purposes
Three Parties of the Commercial Fundraiser Bond
The California Office of the Attorney General requires the commercial fundraisers to file a bond to conduct business. This bond consists of three parties: the obligee (the state), the principal (commercial fundraisers), and the surety company. If a commercial fundraiser conducts unlawful acts within their business, …

 

California Commercial Information Requester Bond

California Commercial Information Requester Bond

Three Parties of the California Commercial Information Requester Bond.
The California Commercial Information Requester Bond is a three-part agreement among the obligee, the principal, and the surety company. California DMV (obligee) requests the bond from the CA Commercial Information Requester (principal).  The DMV requires every commercial information requester to file a surety bond. If the commercial information requester does not comply with …