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Success Story – Damaged Credit Contractor Increases Bond Capacity

Surety bonds, specifically bid, performance and payment bonds, are the lifeblood of a public works contractor. Surety bonds are required under federal and state law whenever public funds are being spent. Bond capacity is based on the credit worthiness of the contractor. This would include personal and business credit, assets, liquidity, experience, among other things. When things are rosy, …

 

5 Ways to Increase Bond Capacity

How do I increase my bond capacity resulting in larger performance and payment bonds? This is one of the most common questions we get from our contractor clients. While it’s a straight forward question it’s not always a straightforward answer. This is due to the fact that a bond program is not a ‘one size fits all’ and ways …

 

Surety Bonds for Dentists?

Surety Bonds for Dentists?

Recent Medicare changes now require dentists who act as Durable Medical Equipment providers for Medicare-approved appliances (sleep apnea oral appliances) to secure a $50,000 surety bond. Previously, these dentists were deemed exempt from the federal DMEPOS bond requirement. These affected dentists are now receiving a letter from the Center of Medicare & Medicaid Services instructing them to get this surety …

 

California Immigration Consultant Bond

California Immigration Consultant Bond

How to Become an Immigration Consultant

The US Immigration process is certainly not an easy process. With all of the documentation and paperwork required, the help that Immigration Consultants can provide is crucial.  An Immigration consultant is any qualified individual who provides non-legal assistance regarding immigration. In some states, an immigration …

 

What is a Postsecodary School Bond?

What is a Postsecodary School Bond?

First, know the difference between a Secondary and a Postsecondary School.

 Secondary schools (Private High Schools) are federally governed establishments that grant free public education for all, specifically special education.  Is some states, these schools are required to provide a Postsecodary School Bond.

Postsecondary Schools (Private Colleges or Universities) are
also governed federally, …

 

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 bills 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, …

 

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 licensed 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 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 …