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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,…

You need at least one good bonding relationship, and that relationship should be with your surety broker. A good surety broker can effectively guide you through what could otherwise be an unwieldy and confusing process. For companies where bonding is critical, you may also want your broker to help you…

Without the right surety broker, you are rolling the bonding dice. Worse yet, some people don’t know they are essentially gambling when it comes to their company’s surety bond needs. Surety bonds are a very specialized non-insurance credit product and a relatively small niche segment of the entire insurance industry.…

CLEVELAND – Jan. 6, 2023 – Oswald Companies, one of the country’s largest independent insurance brokerage and risk management firms, is pleased to announce the appointment of Debbie Beebe to practice leader of the firm’s Architects & Engineers Practice. Debbie brings more than 30 years of professional experience in the…

With the evolution from the design-bid-build approach to construction to more collaborative delivery models (integrated project delivery, design-build, delegated design, design-assist), all or portions of the risk for negligent act, errors or omissions in design have shifted to the construction manager and its subcontractors. General liability policies carried by contractors…

On occasion, the client of an attorney will need a surety bond, which is placed by surety brokers. We refer to these as Court, Fiduciary and Probate Bonds, which are required by various courts in our judicial system.  These bonds are used to protect either property or money. So, let’s take a…

Supply chain limitations, cost management uncertainty and ever-changing interest rates face the construction industry every day. Those in the industry, from financiers, risk managers to project owners, must anticipate what may lie ahead. They also need to consider new strategies to mitigate risks tomorrow or in the future.

For any business that needs surety bonds, it is wise to find an experienced surety broker to help you navigate the industry and find the right surety company to partner with. When you enter into a surety bond relationship, you are essentially entering into two important relationships, one with your…

A surety bond is nothing more than a third-party guarantee of an obligation between two other parties. The majority of surety bonds guarantee performance of a contract and/or payment of monies legally owed to others. Sounds pretty simple, right? Well, not really. When we are asking a surety company to…

Ohio Senate Bill 49, also known as the Payment Assurance Bill, was signed into law July 12, 2021, and took effect on Oct. 4, 2021. It established a payment assurance program for registered Design Professionals thus allowing them to file a lien for unpaid fees on projects located within Ohio.…