Join us as we discuss the current state of the construction industry as it relates to insurance, contract provisions, market issues, and the growing influence of manufacturing, data, and lean strategies. Insights will be from local industry leaders at Oswald Companies, Taft, Demain, and Capstone Apartment Partners. Thursday, Sept. 7 2023 |…
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The All Ohio Convocation, a risk management program for architects and engineers and industry legal professionals, will take place Thursday, September 7, 2023. The full-day annual event, hosted by Oswald Companies, will offer 5.0 AIA/ HSW / CLE credits (pending approval) and will cover a wide-range of topics including: The…
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In simple terms, a surety bond is a third party financial and/or performance guarantee of a contract or other legal obligation between two parties. While there are hundreds of bond types, the most common types are bid bonds, performance bonds, payment bonds, license bonds, estate administrator bonds, and appeal bonds.…
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The judiciary requires a surety bond to help protect property or money. Some of the most common surety bonds include: Appeal Bonds (or Supersedeas Bonds) stop judgment enforcements and guarantee payment when appeals are lost. Attachment Bonds (or Replevin Bonds) help seize the defendant’s property, which plaintiffs can later sell or transfer.…
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For construction companies, it is important to have a surety broker representing you with the various insurance carriers that write bonds. Most companies can get more bonding capacity by working with someone who knows the business very well. Knowledgeable surety brokers and surety company representatives allow you to learn valuable…
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The architecture and engineering landscape is constantly evolving. Whether you’re charged with keeping up with legislative changes on the local, state and national levels or staying abreast of the latest trends in the market, we understand you have a lot on your plate. Oswald Companies is here for you. Our…
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Surety agents/brokers come in all sizes and shapes. What this really means is that the experience and ability of your surety broker is going to be a result of their surety background, experience and intelligence. Not all surety brokers are the same, just as all financial advisors are not the…
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It’s usually not the end of the world when your surety company says “no,” but certainly this is a position you should try to avoid. However, when a surety does surprise you by denying your bond request, there is a disconnect somewhere between the surety, the broker, the client, or…
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Putting together a surety program can range from a simple project to a complex undertaking, depending on the variables involved. The key is to identify the specific variables, steps and level of complexity in advance, so the proper approach can be taken from the start. The more complex and potentially difficult…
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We might as well admit that many companies look at surety bonds as a necessary evil. This is because it’s a product that usually requires a personal guarantee and may also impede a business owner from success if bonds cannot be obtained under reasonable terms and conditions. On the flip side,…
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