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Performance Bonds

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 …

 

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 …

 

5 Proven Ways To Get More Surety Credit

Growing a construction firm is not easy. A lack of surety credit is a constraint to growth.  
Virtually all public works and private projects require performance and payment bonds; a strong bonding relationship is essential for success and profit. Having the opportunity, man-power, and financial resources may not be enough. Chances are, your prosperity will depend on your bonding company. The following …

 

CalTrans Emergency Tree Cutting Contracts

Unlike the rest of California, the California Department of Transportation’s (CalTrans) fiscal years ends on July 31st. As this date nears, CalTrans will be looking to spend any money they haven’t already spent in their budget. One of the ways CalTrans can spend unused budget money is by offering extra contracts for the emergency removal of dead trees near power lines, freeways, highways, …

 

The History of Surety and Suretyship

A Brief History of Surety
The principles of suretyship and of surety are not new to the world. While many may not even know what a surety bond is, there is a very deep and rich history of surety and suretyship. The ideals of suretyship are widely traveled and have spread to more corners of the earth than many of us …

 

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. …

 

Public Works Contractors: Renew with DIR

Public Works Contractors: Renew with DIR

The California Department of Industry Relations (DIR) requires contractors that wish to bid public works projects register each year. This law was enacted in 2015, but what many may not realize is that the DIR requires the contractor to renew its registration each year prior to start of the fiscal year (July 1 – June 30).  The registration is $300 annually. Click here …

 

The History of Paved Roads In America Part 2

The History of Paved Roads In America Part 2

The History of Paved Roads In America Part 2 – Eisenhower’s Effect on the American Interstate Highways
1953—Eisenhower takes office
President Dwight D. Eisenhower came into office in 1953. Before this, he was a commanding general for the United States during World War II. He led his forces to victory in Europe. He is well known for lessening the tension …

 

The History of Paved Roads In America Part 1

The History of Paved Roads In America Part 1

The history of paved roads in America before the Eisenhower administration.
Americans travel many miles on paved roads every day. We use roads to get us to work, home, or a night on the town. Despite how often we use roads, we rarely think about their colorful pasts. Paved roads have come a long way since they were first made in …

 

Performance and Payment Bonds for E-Rate Contracts

Performance and Payment Bonds for E-Rate Contracts

If you are a company that does business in the public arena for school districts, you are probably familiar with the E-rate program.
This program, also called The Schools and Libraries program was implemented to make telecommunications and information services more affordable for schools by way of the Universal Service Fund. The E-rate program was implemented in 1997 by the Federal …