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Construction news

Advance Payment Contract Bond

A contractor provides this type of bond which guarantees that the contractor will repay or settle the cash paid in advance by the owner of the contract.
An advance payment  surety bond assures the owner of the contract the contractor will fulfill his/her promised duties. A bond tells clients the contractor is legal and allows clients to be assured they …

 

Lower Rates For California Contractor License Bonds

CNA Surety, one of the largest writers of surety bonds in the U.S. has new lower rates for California Contractor License Bonds.
Through it’s Western Surety operating company CNA has announced State approval and immediate use of new, lower rates for California Contractor License Bonds. The State required $15,000 rates are as follows:

Super Preferred Plus rate $90.00 …

 

Trump’s $1 Trillion Infrastructure Plan

What is Trump’s Plan?
President-elect  Donald Trump proposes to rebuild America’s infrastructure by creating and fixing bridges, roads, ports, and other public projects using an investment plan of $1 trillion. If Trump’s plan gets approval from Congress, millions more contractors  will be put to work as more infrastructure is being built.
How does Trump’s plan help contractors?
Since the 2007-2008 recession, the …

 

Environmental Bonds for Contractors

What are Environmental Bonds?
Environmental bonds help contractors meet federal regulations. They ensure remediation projects and hazardous materials are fully covered within the bond and that the bond is in line with federal standards. and allow contractors to do projects that may be potentially harmful to the environment and that harm could become a liability. The risk management for environmental contractors can be …

 

Construction Surety Bonds at Fiscal Year End

Construction Surety Bonds at Fiscal Year End

The fiscal year is winding down for all states but Alabama (ends September 30), Michigan (September 30), New York (March 31), and Texas (August 31).  The other 46 states see their fiscal year ending on June 30.  With the good and growing economy, some states are projecting that they will see revenue surges as the year comes to an end. …

 

2016 Construction Outlook Positive: Get Bond Program Ready

2016 Construction Outlook Positive: Get Bond Program Ready

A surety bond is a product that ensures the obligation of one party is being fulfilled for the benefit of another party.  In the construction arena, when bonds are required they are referred to as bid, performance, and payment bonds.  It makes sense that those contractors who do business in the public sector and rely on performance and payment bonds to fuel …

 

Would a National Infrastructure Bank Change the Bonding Market?

Would a National Infrastructure Bank Change the Bonding Market?

There are some things that are so basic and intrinsic that we don’t think about them until something goes wrong. Consider breathing or your heartbeat — you don’t consciously think to make your heart beat, and unless you are doing so deliberately, breathing is just as autonomic. But boy, when either one encounters difficulty it tends to seize the mind. …